Search Results for: oil production

Perspectivas de América Latina: Bolivia vende oro por dólares, Argentina prohíbe las criptomonedas fintech, Fitch mejora calificación crediticia de El Salvador

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Bienvenido a Latam Insights, un compendio de las noticias criptográficas y de desarrollo económico más relevantes de América Latina durante la última semana. En este asunto, Bolivia aprueba una ley para vender oro a dólares, the Central Bank of Argentina bans fintech…

French President Emmanuel Macron on Taiwan: ‘Being an Ally Does Not Mean Being a Vassal’

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French president Emmanuel Macron has decided to double down on his strategic autonomy policy thesis, declaring that Europe should not be forced to side with Beijing or Washington on Taiwan. Macron declared that being a U.S. ally ‘does not mean being…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

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After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Además,…

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

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China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March,…

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

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El domingo, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was…

As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created

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109 years ago, los Estados Unidos. Federal Reserve was created and ever since that day, the purchasing power of the U.S. dollar has dropped a great deal. Since the Fed started, más que 96% of the greenback’s purchasing power has been erased…

Saudi Chemicals Producer SABIC Launches Blockchain Pilot Project

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A Saudi Arabia-based chemical manufacturer has said its recently launched blockchain pilot is expected to uncover the possibilities of the technology “in supporting end-to-end digital traceability of circular feedstock in customer products.” The benefits expected to accrue from using blockchain include…

Kazajstán toma medidas enérgicas contra la minería ilegal, Bustos 13 Cripto Granjas

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Authorities in Kazakhstan have gone after illegal crypto mining operations amid ongoing issues with electricity supply. Working together with law enforcement, the country’s energy ministry announced the closure of over a dozen facilities minting digital currencies. Government Shuts Down Unauthorized Crypto…

Bitcoin Mining Report Shows Network’s Emissions Account for 0.08% of the World’s CO2

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During the last year, Bitcoin — the cryptocurrency network that leverages proof-of-work (PoW) to process transactions and secure the protocol — has received a lot of criticism about its environmental impact. Esta semana, the cryptocurrency firm Coinshares published a report that…