Oil and IVT Global News Agency

The price of oil is $114 per barrel

America has decided to release 1 million barrels of oil to the open market to tame the rising prices after the Ukraine-Russia war hit the oil supply from Russia. This oil is released from America's strategic oil reserve. America stored its oil in four locations along the Texas and Louisiana Gulf Coasts in caverns created in salt domes, which are suitable for use in the event of an emergency or global shortage.

This storage has the capacity to hold 726.6 million barrels to date, and it may vary with time, but so far it has been filled as a reserve only with this much quality.

Right now, he is going to release 180 million barrels, ten million being the daily release basis, and earlier, twice, he released a total of 80 million barrels.

The current stocks and sites are:

• Bryan Mound holds 218.2 MMB in 20 caverns: 66.6 MMB sweet and 148.8 MMB sour.

• Big Hill holds 129.9 MMB in 14 caverns-65 MMB sweet and 65.1 MMB sour.

• West Hackberry holds 180 MMB in 22 caverns: 102.2 MMB sweet and 77.5 MMB sour.

• Bayou Choctaw holds 60.1 MMB in 5 caverns: 18.9 MMB sweet and 41.9 MMB sour.

When hurricanes hit and many shipping channels are disrupted, America is frequently released oil from its oil reserves. Actually, this time, America was against releasing its oil to contain the rising price due to the shortage of oil supply from Russia, but it is compelled to do it. The rising gas prices in America right now are $4.17 a gallon in March, with some areas recorded much higher.

The total global consumption of oil a day is 100 million barrels a day and right now the price of oil is $114 per barrel, while Russia is offering India $35 per barrel, which will save India from oil price hikes during this shortage. The EU will face a severe shortage and power crisis if the shortage from Russia's supply takes place and Putin demands roubles for buying oil and gas from Russia for all enemy nations.

Russia's producers had an annual average of 10.5 million barrels per day (b/d) in total liquid fuel production in 2020. Russia produces 11,262,746 barrels per day of oil (as of 2016), ranking 3rd in the world. And it exported 7.8 mb/d, of which crude and condensate accounted for 5 mb/d or 64%. And the year was 2021, with a total value of $110.11 billion.

The OPEC+ nations agreed to allow Russia to produce an increase in its production baseline from 11.0 million b/d to 11.5 million b/d starting in May 2022 and also allowed Russia's production quota to increase by 100,000 b/d per month beginning in August 2021.2 to keep the price and demand under control.

When such a huge supply halts in the global market, it could impact production across the world, and the manufacturing and power sectors are going to suffer more. After the pandemic economic slowdown, this second slowdown in Europe may cause more damage to the global economy and the European economy. The other nations that Russia is willing to supply oil and gas to are those nations willing to pay in local currency. Here, American currency is getting bypassed and the western payment route is also getting bypassed. The losers here are America and Europe.

No doubt.

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The American Economy on a positive sphere after The Pandemic struggle.

Though the world leaders are united to isolate China and left the destiny of Taliban ruling Afghanistan on its own courtyard, in the US, its sniffing economy slowly started showing a positive sign of recovery. However, the economists are still very conservative to give a very ambitious projection which everyone anticipated a 6%+ GDP. Now they seem to have settled between 4%-5% due to low growth in the export, manufacturing and in the service, industry even today.

It is surely a positive sign that many shops and industrial units are opening up and the unemployed are enthusiastic to get ready to restart their work life, and the employees who have been laid off are being called back to restart their work, which would improve the state of the economy once the eco-system balances. The purchasing power will improve, so does the demand in the market and, naturally, the production will also improve.

This is happy news for the world. The tussle between Australia, France and the US is still a stain on the white cloth, the economic co-operation to re-energize the economy should be the prime objective of the world leaders. At the same time, the AUKU and QUAD are already sowing the seed of war fear among people across the world. In case a war takes place between China and other countries, the disaster will not end up within the Asian region alone, it may ransack both the North American and EU continent in case China is forced to go crazy with its highly disastrous steps and the weapons.

The world still believes that the Covid19 was a Chinese biological weapon.   

IVT Global News Agency/Resignation

Corporate employees are going home.

The pandemic and lockdown were relaxed, but where are the employees? Most of the employees have given their resignations and are searching for a better work-life balance than just a carried pay-check now.

This trend has started in the US and is now spreading much faster than the pandemic into Australia, the UK, and other parts of Europe. People just want to rethink the trend they have been following, earn more, deposit money into their bank accounts, and live their dream of earning more and more. Now the trend is changing. People just want to be average, then smart, flexible at work, and punctual in corporate life. Overall, the real purpose of sitting on unlimited cash and not using or having enough money to spend a lifetime is becoming useless these days.

People demand better terms and pay for re-joining or working. Besides money, they will look, for now, for flexibility, purpose, and balance, better work-life balance, and inspiration to do what they have to do.

Last year, 47.8 million workers in the United States left their jobs voluntarily. And they never wanted to return to the office; instead, they wanted to find work that paid them well and was also meaningful and flexible in terms of time and delivery. This is an added benefit.

In the US, people started leaving their jobs because taking care of children was their last priority while chasing their dreams and savings. Now, caring for the dearest ones and the elderly started getting more attention when they released the simplicity and uncertainty in life when the pandemic attacked the world. For the first time, western materialist culture recognised the futility of fantasising and ignoring dependents.

During the pandemic lockdown, many governments sent checks to the employees who were fired or laid off and those who were getting less pay from the companies where they worked. This stimulant kept the trade going and the job market retained the employees.

Now France and Australia have started to see job switches, and the trend is increasing steadily. While talent shortages after Brexit in the UK give everyone an opportunity to switch jobs, the new job openings give them a higher paycheck and better positions and responsibilities that lure the applicants.

Some jobs, like nursing, drain people and are undervalued, so people leave and migrate to teaching and other reputed positions.

Many people are thinking of taking a part-time job to pay their bills and starting their own online mentoring or dot-com business for self-reliance.

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IBT/IVT Global News Agency

Goldman Sachs has downgraded its forecast for US economic growth in 2022.

According to Goldman-Sache, the American economy may face a recession next year. The American economy was struggling like the rest of the world when the pandemic hit, sending people out of jobs and increasing inflation.

For the last three months, there has been no growth in any sector in America. The Russia-Ukraine war, as well as the sanctions imposed on Russia by many countries, resulted in a shortage of energy and goods movement across the EU. The American economy will face a slowdown because the income of the middle class and the lower-income group will be spent on food and gas. Gas and oil prices are already going up due to the shortage in the market. There is now a 35% chance of having a recession in America next year.

Consumer confidence has declined ever since the Russian invasion and the EU and America engaged in this episode by imposing sanctions. Beyond the slowdown, European companies will face less credit flow and a halt in production due to the high price of oil. Once the credit access is not available, the production will get hurt.

Eventually, the pressure on the EU market will slow the movement of goods from American factories to the EU market. With Russia being the major supplier of oil and gas as well as industrial metals and agricultural products, any sanctions on Russia will clearly affect those countries that imposed sanctions on Russia, and it will be reflected in the EU market too, because of price hikes in every sector. Rising inflation will overwhelm the recovering economy, which will eventually result in a recession.

High inflation and slow growth will discourage investors from taking any more risks. The rising prices, the difficulty in logistics movement, and oil and gas prices are again going to affect corporate earnings negatively.

Putin compensates for the impending economic recession by seizing the assets left behind by Western companies that have left the Russian market and recovering the loss that Russia will suffer from the sanctions.

According to Earnest and Young, US companies have more than twice the amount of investment in Russia than in any other country and five times more than Asian countries.

Around 95 companies from foreign countries are operating in Russia, including Unilever, Nestle, Shell, Mars, PepsiCo, Novartis, and Kinross Gold. Each American company invested an average of $224 million in Russia, while EU companies invested $90 million and Asian companies invested $40 million.

From 1995 to 2019, foreign countries invested $585 billion in Russia. In 2019, the investment was $6.5 billion.

Of these companies, 72% have local production facilities. 55% of the company's work is with local small and medium-sized suppliers. And 62% of these companies and investors believe that the economic sanctions have a negative impact on their business in Russia, while 85% of them expect that in the next three years, their business in Russia will grow better.

At that point, economic sanctions were imposed and they had to vacate the Russian operation. Who is the real loser in this economic sanction? Russia or America?

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