US-China oil trade returns to levels not seen since 2020
Rebounding Chinese demand and attractive US crude prices are set to push US oil exports to China to their...
Rebounding Chinese demand and attractive US crude prices are set to push US oil exports to China to their highest level since October 2020 in March, with at least 14 million barrels scheduled to load, according to ship-tracking data from Refinitiv, Vortexa and Kpler. The trend is likely to persist in the next two quarters, supported by the end of the refinery maintenance season in China, which is expected to further boost demand.
Goldman Sachs yesterday revised its recession odds for the year. Before...
Goldman Sachs yesterday revised its recession odds for the year. Before this week, the firm gave the US a 25% chance of tipping into recession in 2023.
In light of the bank runs, bank failures, and bank stock volatility, those odds are now at 35%, strategists said Thursday, citing "increased near-term uncertainty" surrounding the effects of small bank stress.
Thursday's research note followed a separate forecast from Goldman that slashed the 2023 GDP outlook by 0.3%, to 1.2%.
🤖 Microsoft vs. Google locked in workplace AI battle
Microsoft wants to make its Office suite great again by ...
Microsoft wants to make its Office suite great again by infusing it with the hottest tech around: the GPT-4 large language model. The company said it will include AI-powered assistants (“Copilots”) in apps such as Excel and PowerPoint to take busywork off your hands. That announcement comes days after Google revealed it would bring generative AI features to Google Docs, Google Sheets, and Gmail.
Google raised the price of its YouTube TV subscription from $65 per month to $73—a 12% bump. The service, intended as a cable replacement, hasn’t experienced a price hike since June 2020. But, according to Google, “content costs have risen” since then. It didn’t specify what content costs more now, but YouTube TV did recently pony up a reported $2 billion for the rights to the NFL’s Sunday Ticket package. Other streaming services from Apple, Disney, and HBO have raised prices recently.
N.D. oil output bounces back in Jan. after Dec. dip
The North Dakota Department of Mineral Resources has reported that the state's oil production surged...
The North Dakota Department of Mineral Resources has reported that the state's oil production surged by 11% to almost 1.1 million barrels per day in January, rebounding from a 13% drop in December that pushed output below the 1-million-bpd mark for the first time since April. Natural gas production rose by 7% to around 2.8 billion cubic feet per day in January, with producers exceeding the state's 91% gas capture target.
