Shale drilling activity recovers
before the implementation of the “OPEC +” plan.
With the approaching date of implementing the “OPEC +” plan next November,
which aims to reduce oil production by two million barrels per day,
this is the largest reduction since the Corona pandemic,
and this decision prompted the United States to pump more barrels,
as the number of rigs reached the highest level recorded in two years,
which came after it recorded a rise of about 21 excavators during the last six weeks
Topıcs
Elon Musk started taking steps
A very fierce week waiting for the new increase in interest and developments in China.
Biden and the OPEC + decision
After the “OPEC +” decision was issued, this came to the disappointment of US President Joe Biden,
as he described it as his “disappointment,” and that this decision related to production cuts was a “short-sighted decision,”
noting that some low- and middle-income countries would be greatly affected.
In light of the conditions of high energy prices,
while “Biden” and his administration are trying to buy back American
oil at prices ranging between 67 and 72 dollars a barrel,
and this is an important part of the plan that is being prepared in order to build strategic stocks,
and this also came in light of the attempt to release About 15 million barrels,
which represents a percentage of the strategic oil reserves, to be delivered in September
The return of the increase
in drilling and exploration
Businessmen in the field of shale oil stated that
the decisions of “OPEC +” are considered a prelude to raising prices,
which enables many companies interested in exploration operations to increase their activity,
especially the exploration for American oil,
and thus we see the extent of the great activity of drilling operations in shale oil,
which has begun to return It has returned to its levels before the Covid 19 pandemic,
while the statistics in this regard indicate active drilling rigs with about 612 rigs,
which operate specifically in oil fields, and also included 157 rigs specialized in drilling for gas.
artıcle name Shale drilling activity recovers
Elon Musk started taking steps
towards making some deals and preserving his capital to complete them.
The International Washington Post has issued some documents stating that
Elon Musk has decided to reduce Twitter’s workforce
by approximately 75% in the coming months,
as this percentage represents approximately 5,500 employees out of 7,500 employees.
Today, Musk stated that he wants to maintain only 2,000 employees during the coming period.
After major legal battles over the Twitter deal,
the owner of Twitter ended up with some indications during the previous month
that reducing its workforce is a foregone conclusion to cut costs and
that he will go ahead with his way to buying Twitter and make it his private partner.
And the CEO of Tesla to reduce the number of employees in his initial offer to the banks to obtain financing,
according to what Bloomberg reported earlier, as this deal, scheduled for the twenty-eighth of October,
amounting to about $ 44 billion to buy the company,
is one of the most important and dangerous steps of billionaire Elon mask.
While the results Snapchat showed negatively impacting results on social media shares.
Snapchat recently showed continuous declines that in turn affected social media shares,
and for the third time in three quarters, the partner declined significantly,
which led the company responsible for Snapchat to announce a slowdown in growth,
and it announced this decline last Thursday by about 27% in extended trading During the American period
after the closing of the New York market.
These meager results directly
affected technology stocks, as the Nasdaq 100 index fell by 0.9%,
and it is also expected that losses on its partner Snapchat will continue to be
about $29 billion in the fierce competition of its partner Snap
and other platforms such as Facebook, a subsidiary of Meta, and Google,
a subsidiary of Alphabet Inc. Declining advertising funds this year.
The high rate of inflation puts pressure on consumer spending and
spending by companies operating in the field of technology,
this has come to a slowdown in spending on marketing, according to Snape’s management.
artıcle name Shale drilling activity recovers
A very fierce week waiting for the new increase in interest and developments in China.
With the escalation of the energy crisis in the euro area and the outbreak of unprecedented inflation,
and coinciding with the recession that the country has reached,
it is certain that the European Central Bank will certainly raise interest rates and follow monetary tightening policies.
The European Union
has not gone through these crises for a long time,
and if the economic situation is similar to the 2008 crisis caused by the collapse of the American Lehman Brothers bank,
which previously decided to raise borrowing costs from the European Union,
history may repeat itself and if events differ, but Hungary is one The result is considered one,
despite the aggravation of the current crises and the ferocity of inflation that the European Union has never seen before.
The Russian war in Ukraine has left many crises that will take a lot of time to treat their consequences.
It is not that easy for decision-makers to raise interest rates this time,
it will cause a major recession that will negatively affect economic growth,
which is fighting against inflation, despite this insistence on raising interest rates by another 75 basis points,
which is the dominant matter for the majority of decision-makers in the European Union,
according to Bloomberg Economics, the European Central will focus on the very high inflation rate
and will continue to raise interest rates with the weakness of the economy in October,
and the deposit rate will end the tightening cycle at 2.25% next February,
without regard to the size of the consequences of that violent decision,
according to the visions of economists and analysts.
Looking at some countries following the same path, GDP reports may show a return to growth in the US,
a contraction in Germany, and a slowdown in France.
The selection of a new prime minister in the UK as well as the unchanged interest rate decisions in Japan
, Russia, and Brazil will be among the other highlights
that will move the market violently this week while coinciding with
them is the US government’s estimate of growth for the third quarter,
as well as income and inflation figures for the month September and the Personal Consumption Index as well.
It is expected that domestic production will be buoyant from July to September by about 2.3%,
according to reports and a poll of economists.
Next Friday
will witness violent movements in the market,
as it is scheduled to disclose income and spending reports for the month of September,
and this will determine the extent of the economy’s momentum during the fourth quarter of this year,
as will also appear indicators of inflation, which rose in a crazy way from about Forty years,
which is followed by Federal Reserve officials earn.
In the Asian region, it seemed interesting. Despite the decline in the Japanese yen,
the Governor of the Central Bank of Japan, Haruhiko Kuroda, shows some optimism,
as he declared commitment to very low rates to reach a satisfactory level regarding
inflation despite the pressure facing the currency and raising the return ceiling from the Bank of Japan,
which It will meet to decide on future policies after closely observing the path of the yen during the last period.
China has continued its path towards
solving some of the crises it faced during the recent period,
such as the housing crisis and the decline in exports.
It has appointed a new team that will monitor investors tightly,
and this indicates a new path in economic policies,
especially after the recent decline in GDP during the quarter.
South Korea will also release GDP figures next Thursday which are expected
to show slowing growth and in Southeast Asia,
Singapore releases its latest inflation figures,
which are likely to show continued price increases at their highest level in nearly fourteen years. year,
while the Central Bank of the Philippines will be monitored as it seeks to defend
the currency against more consecutive losses that it witnessed during the previous period of this year,
especially after the recent interest decisions.
In view of Russia, which is beginning to show exhaustion from its war with Ukraine,
it was decided to hold a meeting of policymakers regarding the aggravation of the inflation crisis
and the loss of confidence that the country is suffering from during this period.
Next Monday will also witness Chile’s report on employment,
manufacturing, and copper production data, as well as the meeting of the Central Bank’s advisor,
who met to maintain the rate at 11.25%.
And the role of economic tightening taken by Mexico has led to the reduction
of consumer prices despite the weak growth.
artıcle name Shale drilling activity recovers