OilPrice.com (March 7)
There is scant “spare oil production capacity globally.” This mostly lies with Saudi Arabia and the United Arab Emirates. U.S. shale firms “are expected to raise oil production this year compared to 2022,” but might surprise on “the downside due to supply chain and labor bottlenecks, cost inflation, and the industry’s strategy to reward shareholders and pay down debts instead of taking on more debts to boost output.”
Tags: 2022, Cost inflation, Debts, Downside, Labor, Oil, Production capacity, Saudi Arabia, Shale, Shareholders, Supply chain, U.S., UAE
Star Tribune (March 31)
Chile “appears poised to be among the first in the world to reach herd immunity. But experts say the country’s speedy and efficient vaccination drive—only Israel, the United Arab Emirates and Seychelles have vaccinated a larger share of their populations—gave Chileans a false sense of security and contributed to a sharp spike in new infections and deaths that is overloading the health care system.”
Tags: Chile, Deaths, Efficient, Experts, Herd immunity, Infections, Israel, Security, Seychelles, Speedy, Spike, UAE, Vaccination drive
Reuters (February 1)
“Socialist President Nicolas Maduro is under intense pressure to step down, with Venezuela in deep economic crisis and the government facing widespread international condemnation for elections last year seen as fraudulent.” It appears he is making plans “to sell 29 tonnes of gold held in Caracas to the United Arab Emirates by February in order to provide liquidity for imports of basic goods.”
Tags: Basic goods, Condemnation, Crisis, Elections, Gold, Imports, Liquidity, Maduro, Pressure, Socialist, UAE, Venezuela
