NEWSLETTER
Thursday / September 29Sep 29
Tuesday / January 4
Opec policy
The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to appoint former Kuwaiti governor Haitham al-Ghais as its new secretary-general, replacing Nigerian Mohammad Barkindo, who has been in office since 2016.
The new secretary-general said his top priority is to maintain the group's agreement with Russia and other manufacturers. Al-Ghais will take over the post from Barkindo on 1 August.
The OPEC+ alliance, through the Declaration of Cooperation (DoC) between OPEC and other oil producers, has tried to control the price in the global market since its beginning in 2017. Oil prices rebounded due to the record OPEC+ production cuts adopted in April 2020 as the pandemic hit demand.
Al-Ghais told Reuters on Monday that maintaining the agreement through 2023 was one of his top priorities, in the interest of the industry and all countries that signed the agreement.
In line with the April 2020 agreement, which OPEC+ agreed to remain in effect until the end of this year, producers are easing production cuts.
The OPEC ministerial committee and OPEC+ principles are meeting on Tuesday. The group is expected to approve another 400,000 bpd increase for February supply.
Nuclear pledge
China, Russia, the United Kingdom, the United States and France announced on Monday that they have agreed to prevent further proliferation of nuclear weapons an a nuclear war.
The five permanent members of the United Nations Security Council, all of which have large nuclear arsenals, said that they see avoiding war among nuclear states and reducing strategic risks as their primary responsibility, and that they aim to work with all countries to create a security environment.
"We reaffirm the importance of addressing nuclear threats and emphasize the importance of preserving and complying with our bilateral and multilateral non-proliferation, disarmament, and arms control agreements and commitments," the group known as P5 said in a statement.
The five powers reiterated their determination on nuclear weapons control and disarmament, and stated that they would continue their bilateral and multilateral approaches to the issue.
Apple tops $3T
Apple became the first company ever with a $3 trillion market cap on Monday, as investor confidence that the phone-maker will continue to launch bestselling by entering new markets such as autonomous cars and virtual reality gave it a boost.
Shares of the Silicon Valley company hit an intraday record of $182.88 on the first day of trading in 2022, pushing Apple's market cap to just over $3 trillion. Apple shares ended the session up 2.5% at $182.01, with Apple's market cap at $2.99 trillion.
US stocks
Stocks rose on Monday as investors entered the new year with confidence that the economy can handle the recent spike in Covid cases.
Apple shares reached $3 trillion, while Tesla shares rose 13.5% in a single day, on the confidence of last year's third-quarter delivery figures.
The Dow Jones Industrial Average rose 246.76 points, or 0.6%, to a record high of 36,585.06.
The S&P500 also closed a record, reaching 4,796.56, up 0.6%. The Nasdaq was up 1.2% to hit 15,832.
NATO's eastern flank
US Secretary of State Antony Blinken talked on Monday with the Bucharest Nine (B9) group, which forms the eastern flank of the North Atlantic Pact.
Blinken discussed the Russian military build-up on the Ukraine border with the foreign ministers of Slovakia, Czechia, Lithuania, Estonia, Latvia, Poland, Bulgaria, Hungary and Romania, which constitute the eastern wing of NATO.
According to the statement made by the US State Department, Blinken also talked with his Turkish counterpart Cavusoglu "discussing the importance of maintaining coordination regarding Russia's threat to escalate tensions in Ukraine.
The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to appoint former Kuwaiti governor Haitham al-Ghais as its new secretary-general, replacing Nigerian Mohammad Barkindo, who has been in office since 2016.
The new secretary-general said his top priority is to maintain the group's agreement with Russia and other manufacturers. Al-Ghais will take over the post from Barkindo on 1 August.
The OPEC+ alliance, through the Declaration of Cooperation (DoC) between OPEC and other oil producers, has tried to control the price in the global market since its beginning in 2017. Oil prices rebounded due to the record OPEC+ production cuts adopted in April 2020 as the pandemic hit demand.
Al-Ghais told Reuters on Monday that maintaining the agreement through 2023 was one of his top priorities, in the interest of the industry and all countries that signed the agreement.
In line with the April 2020 agreement, which OPEC+ agreed to remain in effect until the end of this year, producers are easing production cuts.
The OPEC ministerial committee and OPEC+ principles are meeting on Tuesday. The group is expected to approve another 400,000 bpd increase for February supply.
Nuclear pledge
China, Russia, the United Kingdom, the United States and France announced on Monday that they have agreed to prevent further proliferation of nuclear weapons an a nuclear war.
The five permanent members of the United Nations Security Council, all of which have large nuclear arsenals, said that they see avoiding war among nuclear states and reducing strategic risks as their primary responsibility, and that they aim to work with all countries to create a security environment.
"We reaffirm the importance of addressing nuclear threats and emphasize the importance of preserving and complying with our bilateral and multilateral non-proliferation, disarmament, and arms control agreements and commitments," the group known as P5 said in a statement.
The five powers reiterated their determination on nuclear weapons control and disarmament, and stated that they would continue their bilateral and multilateral approaches to the issue.
Apple tops $3T
Apple became the first company ever with a $3 trillion market cap on Monday, as investor confidence that the phone-maker will continue to launch bestselling by entering new markets such as autonomous cars and virtual reality gave it a boost.
Shares of the Silicon Valley company hit an intraday record of $182.88 on the first day of trading in 2022, pushing Apple's market cap to just over $3 trillion. Apple shares ended the session up 2.5% at $182.01, with Apple's market cap at $2.99 trillion.
US stocks
Stocks rose on Monday as investors entered the new year with confidence that the economy can handle the recent spike in Covid cases.
Apple shares reached $3 trillion, while Tesla shares rose 13.5% in a single day, on the confidence of last year's third-quarter delivery figures.
The Dow Jones Industrial Average rose 246.76 points, or 0.6%, to a record high of 36,585.06.
The S&P500 also closed a record, reaching 4,796.56, up 0.6%. The Nasdaq was up 1.2% to hit 15,832.
NATO's eastern flank
US Secretary of State Antony Blinken talked on Monday with the Bucharest Nine (B9) group, which forms the eastern flank of the North Atlantic Pact.
Blinken discussed the Russian military build-up on the Ukraine border with the foreign ministers of Slovakia, Czechia, Lithuania, Estonia, Latvia, Poland, Bulgaria, Hungary and Romania, which constitute the eastern wing of NATO.
According to the statement made by the US State Department, Blinken also talked with his Turkish counterpart Cavusoglu "discussing the importance of maintaining coordination regarding Russia's threat to escalate tensions in Ukraine.
