In 2023, the US broke its own oil production record by averaging 12.9 million barrels daily, surpassing the 2019 record of 12.3 million barrels, reaffirming its energy leadership. A monthly high of 13.3 million barrels set the record for the highest production rate ever. Efficiency in drilling and innovations in the shale sector drove this […]
Related Posts
ECB Set to Slash Rates: What It Means for the Eurozone
The European Central Bank (ECB) is ready to cut interest rates, making it one of the first major central banks to do so this year. This decision comes as a response to recent economic data showing a decline in Eurozone inflation, now close to the ECB’s 2% target. Meanwhile, U.S. inflation remains higher, delaying any […]
Brazil’s Economic Outlook by UBS BB
UBS BB, a prominent bank, predicts Brazil will likely avoid a “technical recession,” defined as two consecutive quarters of declining production. This forecast emerges amidst global economic slowdowns. The bank expects no growth in Brazil’s economy for the final quarter of 2023 and the first three months of 2024. Based on recent data, analysts from […]
Lula Stresses State-Driven Growth for Brazil
Brazil’s left-leaning President, Luiz Inácio Lula da Silva, advocates for a state-led development approach in the country At a recent event, he opposed the notion that boosting the private sector requires reducing the state’s role. Instead, he pointed out the state’s critical role in driving progress without selling off public assets. Lula discussed partnerships between […]