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  • Nov 26, 2024

Top Oil Traders Say OPEC+ Has Little Room to Increase Supply

(Bloomberg) -- OPEC+ has few options when it comes to bringing back the oil production capacity it has been keeping off the market, according to some of the world’s top energy trading houses.The group will discuss on Dec. 1 whether to return barrels to the market, and senior trading executives said they expect the supply increase to be pushed back again. Oil prices have dropped toward $70 a barrel due to weaker-than-expected demand this year and the outlook for strong supply in 2025.“I think tha

  • Nov 25, 2024

Saudi Arabia Cuts Spending to Reform Economy Amid Lower Oil

(Bloomberg) -- Saudi Arabia outlined plans to trim spending in 2025 after overshooting targets this year in an effort to progress a trillion-dollar economic transformation plan.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5

  • Nov 25, 2024

OPEC+ Begins Talks on Delaying Oil Output Restart Again

(Bloomberg) -- Key OPEC+ nations have begun discussions to delay the oil production restart planned for January, potentially for several months, delegates said.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeTh

  • Nov 25, 2024

Rumble Plans to Buy Bitcoin From Cash Reserves

Rumble, the conservative-leaning streaming platform whose backers include Vice President-elect JD Vance, said it is planning to allocate part of its cash reserves to bitcoin.

  • Nov 25, 2024

Dogecoin Soars on Trump's Presidency Win. Here's Why That's Not Just a Fad.

Dogecoin (CRYPTO: DOGE) is no longer a sleeping dog. In the aftermath of Donald Trump winning the U.S. presidency, Dogecoin has been one of the hottest performers in the crypto market. Is this yet another example of a meme coin exploding in value due to hype and buzz, or is there something really behind Dogecoin's recent resurgence?

  • Nov 25, 2024

Newsom says California could offer electric vehicle rebates if Trump eliminates federal tax credit

California could offer rebates for electric vehicle purchases if the incoming Trump administration eliminates a federal tax credit for people who buy electric cars, Gov. Gavin Newsom said Monday. Newsom, a Democrat, proposed creating a new version of the state’s Clean Vehicle Rebate Program, which was phased out in 2023 after funding 594,000 cars and saving 456 million gallons of fuel, Newsom’s office said.

  • Nov 25, 2024

Bitcoin Is ‘Far From Being a Bubble,’ Pantera’s Morehead Says

(Bloomberg) -- Bitcoin’s record-breaking rally may only be getting started, according to one of the earliest US professional investors in the original cryptocurrency. “People totally thought we were crazy in 2013,” said Dan Morehead in an interview, referring to when Pantera Capital Management launched its Bitcoin fund more than 11 years ago. “There are still a lot of people very negative. And that’s why I’m so bullish. So many people are still negative. It’s far from being a bubble.”That fund h

  • Nov 25, 2024

Fed's Kashkari: Interest-rate cut in December is 'reasonable'

"It's still a reasonable consideration," Kashkari said in a Bloomberg TV interview. The Fed began cutting interest rates in September after gaining confidence that inflation would continue to fall, and in response to worries that high borrowing costs were slowing the job market too quickly. Since then inflation's progress toward the Fed's 2% goal appears to have slowed.

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