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(Investing) – Goldman Sachs reduced its oil price forecast following decisions by the Organization of the Petroleum Exporting Countries and its allies, OPEC+, to accelerate oil output increases, the bank said in a note dated Sunday. The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate. It has also cut its forecast for West Texas Intermediate (WTI) crude by $3/bbl, now projecting it to average $56/bbl for the remainder of 2025 and $52/bbl in 2026. On Saturday, OPEC+ agreed to increase oil production for a second…
Patrick T. Fallon/Getty Images 2025-05-05T21:03:42Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Investors in Thinking Machines Lab are being asked to commit to a minimum check of $50 million, sources say. Former OpenAI CTO Mira Murati is raising around $2 billion at a $10 billion valuation. Sources say the round, led by Andreessen Horowitz, is nearing the final stages of…
Two Superpowers Are Quietly Loading Up China – the world’s largest Oil importer is capitalizing on every dip. Last month, China’s Crude Oil purchases rose to 12.11 million barrels a day – a 5% increase from the same month a year ago. This marks the third consecutive month of rising imports, driven by a rebound in domestic travel and industrial production. China has also added an estimated 250 million barrels to its strategic reserves over the past 12 months, according to proprietary data tracked by GSC Commodity Intelligence. In the United States, the summer driving season – historically a strong…
We’re only a few trading days into May — and, thankfully, it’s been a lot less volatile than April. The S & P 500 ‘s sharp tariff-driven selloff began on April 3, the day after President Donald Trump made his evening “liberation day” announcement. Despite a 9.5% jump, about a week later, when Trump paused “reciprocal tariffs,” the index still struggled into mid-April. The S & P 500 then went on a nine-session win streak as of Friday’s close, a run not seen in two decades. The optimism was built on headlines providing hope that trade deals would soon be…
Petróleo Brasileiro SA (Petrobras) has fully commissioned its new natural gas processing unit (UPGN) at the Boaventura energy complex in Itaborai, Rio de Janeiro, Brazil, as part of the operator’s Route 3 integrated project (PIR3) to expand transportation and processing of associated gas from the country’s offshore Santos basin presalt (OGJ Online, Mar. 27, 2023; Nov. 7, 2022, p. 40). On May 4, Petrobras began commercially operating the complex’s second 10.5-million cu m/day processing train, bringing the Boaventura UPGN’s overall processing capacity of natural gas from the Santos basin presalt cluster to 21 million cu m/day, the operator said on…
Woodside has signed an agreement with bp for the integrated energy major to supply natural gas to the Louisiana LNG project. This agreement represents the first tranche of a diversified portfolio of feedgas that will support the Louisiana LNG project, enabled by the project’s extensive interconnectivity to multiple producing basins and inter-connecting pipelines. Woodside’s CEO Meg O’Neill said the agreement marks another milestone for the Louisiana LNG project. “Louisiana LNG is a compelling investment, expected to deliver significant cash generation and create long term shareholder value. Securing this gas supply agreement is an important step for the project.…
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Terrorism remains one the biggest security challenges across Africa today. From Al-Shabaab in the Horn of Africa to ISIS-linked groups in the Sahel, armed groups continue to grow in strength, move across borders and carry out deadly attacks. Despite the rising threat, many African intelligence agencies are struggling to keep up. The problem is not just funding or technology, but how these agencies function, who they answer to, and whether people trust them. In many African countries, intelligence agencies are centralized and often tied to political leadership. Instead of focusing purely on national security, they are sometimes used to monitor…
US President Donald Trump leaves after taking questions from the press on the South Lawn upon returning to the White House in Washington, DC, on May 4, 2025. Alex Wroblewski | Afp | Getty ImagesPresident Donald Trump has falsely claimed that gasoline prices have fallen below $2 per gallon, in his push to convince the Federal Reserve to lower interest rates.”Gasoline just broke $1.98 a Gallon, lowest in years,” Trump said in a post on his social media platform Truth Social on Friday. “Consumers have been waiting for years to see pricing come down. NO INFLATION, THE FED SHOULD LOWER…
Lawmakers in Hawaii have passed first-of-its-kind legislation that will increase the state’s lodging tax to raise money for environmental protection and strengthening defenses against natural disasters fueled by the climate crisis.Hawaii’s governor, Josh Green, supports the creation of the so-called “green fee”, and is expected to sign it.“This legislation, which I intend to sign, is the first of its kind in the nation and represents a generational commitment to protect our ‘āina [land],” Green said in a statement. “Hawai‘i is truly setting a new standard to address the climate crisis.”The bill passed on Friday adds a 0.75% levy to the…