NEW YORK (Project Syndicate)—Politically, the G-7 and like-minded countries around the world have adopted a war footing to stop Russian aggression. Russian President Vladimir Putin violated the most fundamental principle Read more
Tag: Production
Saudi Arabia defends OPEC+ production cut after Biden vows there will be ‘consequences’
Saudi Arabia’s ministry of foreign affairs put out a rare statement on Thursday defending the Organization of the Petroleum Exporting Countries’ decision last week to cut production. Last week, the Read more
Taiwan Semi reports stronger-than-forecast profit
Third-party silicon-wafer manufacturer reported Taiwan Semiconductor Manufacturing Co. reported a stronger-than-forecast 80% increase in profit for the third quarter. The chipmaker said earnings rose to NT$281 billion from NT$156 billion. TSMC Read more
Opinion: The Fed needs to jack up interest rates a lot more to bring inflation back under control
The Federal Reserve must do more to fight inflation in an economy radically changed by the pandemic, conditions in China, the war in Ukraine. and climate change. Counterpoint: Leading indicators Read more
Chip stocks could suffer worst year ever as effects of shortage-turned-glut spread
Chip stocks sold off again Tuesday with havens within the battered semiconductor industry disappearing as the effects of a supply glut spread following a years-long shortage. The PHLX Semiconductor Index Read more
Oil prices on track for big weekly gains after OPEC+ production cuts
Oil futures extended gains early Friday, on track for a sharp weekly bounce, after OPEC+ earlier this week agreed to a large cut in its output target. Price action West Read more
German industry contracted in August, energy intensive branches particularly hurt
Germany’s industrial production fell in August as demand for goods moderated and factories grappled with high energy prices and supply bottlenecks. Total industrial output–comprising production in manufacturing, energy and construction–decreased Read more
China’s forex reserves declined again in September
China’s foreign-exchange reserves fell for a second straight month in September amid U.S. dollar strength. The country’s hoard of foreign exchange stood at $3.029 trillion at the end of September, Read more
Oil up a 4th session, with Brent prices at their highest in a month after OPEC+ agrees to an output cut
Oil futures on Thursday tallied a fourth straight session climb, with global benchmark crude settling at its highest price in a month, a day after OPEC+ agreed to cut production. Read more
Biden ‘disappointed’ by OPEC+ production cut, White House says
President Joe Biden “is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Read more