Our first segment is on the oil and energy markets. OPEC predicts that Chinese demand for oil will continue to rise, while weak demand in Western countries will limit overall demand growth for oil. This has led to a decline in oil prices and created instability in the market. At the same time, Saudi Aramco, the state-owned oil company of Saudi Arabia, reported a significant increase in annual profit due to high crude oil prices. Exxon’s new Texas plant is also likely to be the last major refinery project in the US due to the shift towards renewable energy sources. All of these developments are reshaping the energy landscape, and we will continue to follow this story closely.
TOPICS AND TIMESTAMPS:
Oil and Energy Markets 0:00
Banking and Financial 5:22
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