opec – DIGIT INFO

Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase

DIGIT — Thu, 04 May 2023 02:04:56 +0000

Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month […]

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Economist and Political Scientist Refute Claims of US Dollar’s Demise Despite Trend of De-Dollarization News

DIGIT — Mon, 17 Apr 2023 22:35:04 +0000

This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted that claims of the U.S. dollar dying are overblown. In addition to Bremmer’s comments, […]

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Growing Links Between Middle East, Russia, China Pose Huge Challenge for US, Warns Former Treasury Secretary

DIGIT — Sun, 16 Apr 2023 23:30:53 +0000

Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the United States,” he cautioned. Larry Summers on Countries Banding Together Against the US Former Treasury Secretary Lawrence Summers […]

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Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

DIGIT — Mon, 10 Apr 2023 17:15:03 +0000

After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally, the majority of the market is pricing in another 0.25% increase for the May […]

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Mounting Trend of Challenges to USD Hegemony Reported: Saudi Arabia, BRICS; Ron Paul Weighs in on Potential Fall of Dollar as Reserve — Week in Review

DIGIT — Sun, 09 Apr 2023 11:30:34 +0000

The United States dollar has been a hot topic in recent weeks, with multiple reported developments occurring globally which could signal significant moves toward de-dollarization in large economies. Former U.S. congressman Ron Paul also noted this week that if the USD’s influence as a reserve currency is undermined, it might happen later than some expect. […]

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Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

DIGIT — Sat, 08 Apr 2023 17:30:14 +0000

China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March, Saudi Arabia’s Cabinet approved the decision to become a dialogue partner. The Cabinet’s decision […]

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Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’

DIGIT — Wed, 05 Apr 2023 23:30:54 +0000

Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking industry. Yellen insisted that “matters […]

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US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States

DIGIT — Tue, 04 Apr 2023 19:30:46 +0000

After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that […]

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BTC price double top forming? 5 things to know in Bitcoin this week

DIGIT — Mon, 03 Apr 2023 09:52:35 +0000

Thanks to oil production cuts to major historical resistance, among other factors, Bitcoin bulls have their work cut out to break higher.

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Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

DIGIT — Mon, 03 Apr 2023 02:30:08 +0000

On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of the Petroleum Exporting Countries (OPEC) and […]

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