Yesterday’s move by OPEC to leave its production limits unchanged at 30 million barrels per day reflected a failure by the cartel to act collectively to reduce oil production and boost prices. Oil prices will likely continue to drop on fears of oversupply. But while OPEC may go into hibernation, reports of its death are greatly exaggerated.
A major military engagement could occur in the Asia-Pacific region in the form of a possible conflict between the People’s Republic of China and Taiwan.
In June 2022, the government of South Sudan acknowledged that Egypt had delivered equipment for resuming its long-dormant Jonglei Canal megaproject by dredging tributaries of the White Nile.