DUBAI: The rising oil price could allow for a significant return of US shale to the market in 2022, potentially threatening the rebalancing of the global oil market, according to an analysis by the authoritative Oxford Institute for Energy Studies. In its latest monthly report, Institute Director Bassam Fattouh and analyst Andreas Economou wrote: “As we enter 2022, the US shale response becomes a major source of uncertainty amid an uneven recovery across shale plays and players alike. As in previous cycles, US shale will remain a key factor shaping market outcomes.” With global crude prices heading back toward $70 a barrel, the financial pressures on US shale have eased, and producers have adapted to the constraints of lower demand. “There has been a shift in perceptions about this sector’s behavior. There is a widely held belief that US shale producers have endorsed the principle of capital discipline,” the authors said.
Roscosmos, the Russian space agency, said last week that it would take Japanese billionaire Yusaku Maezawa and his aide on a 12-day visit to the International Space Station (ISS), which is jointly owned and operated by Russia, the US, Japan, Canada and the EU and is perhaps the only symbol of multilateral cooperation in space exploration. The ISS has been operating for more
DUBAI: The EU has pledged €8 million ($9.72 million) toward the fight to combat the spread of desert locusts in Africa. The EU contribution was from its European Civil Protection and Humanitarian Aid Operations (ECHO) and was welcomed by the director general of the UN’s Food and Agriculture Organization (FAO), Qu Dongyu. “I want to thank the EU and all other supporters for
DUBAI: “A gift to Morocco and the rest of the world,” is how New York-based photographer Jinane Ennasri describes her new photobook, “Live From Morocco.” The new photobook focuses on sharing the diverse beauty and culture of the North African country by way of grainy, pastel-tinged film photographs of people and everyday life in the Moroccan cities of Tangier, Fes, Oujda,
Iran’s election in June will determine not only the next president, but possibly also who will succeed Supreme Leader Ali Khamenei. Khamenei, who came to power in 1989, is the second-longest serving ruler in Iran in the past century, behind only Shah Mohammed Reza Pahlavi, who was in power from 1941 until the revolution of 1979. He is the longest-serving head of government in