peshkov/iStock via Getty Images A guest post by Ovi The focus of this post is an overview of world oil production along with a more detailed review of the top 11 non-OPEC oil-producing countries. OPEC production is covered in a separate post. Below are a number of crude plus condensate (C + C) production charts, usually shortened to “oil”, for the oil-producing countries. The charts are created fr...
peshkov/iStock via Getty Images A guest post by Ovi The focus of this post is an overview of world oil production along with a more detailed review of the top 11 non-OPEC oil-producing countries. OPEC production is covered in a separate post. Below are a number of crude plus condensate (C + C) production charts, usually shortened to “oil”, for the oil-producing countries. The charts are created from data provided by the EIA’s International Energy Statistics and are updated to December 2025. This is the latest and most detailed/complete world oil production information available. Information from other sources such as OPEC, IEA, STEO and country-specific sites such as Brazil, Norway, Mexico, Argentina, and China is reported to provide an extra one- or two-month production preview beyond the EIA. The EIA’s April STEO report has made significant and major revisions to the projected world oil production due to the US/Iranian war. Also, US projected production has been significantly revised upward. See the US chart at the end. The world's December oil production decreased by 192 kb/d to 86,058 kb/d. September 2025 is the new current world peak oil at 86,428 kb/d for the next year and a half, when more oil production is brought online in late 2027. Note that after the March 2026 output crash, oil production only gets back to the November 2025 production level in February 2027. This chart has been updated using the April 2026 STEO to project world C + C production out to December 2027. It uses the STEO report along with the International Energy Statistics to make the projection. Production in January 2026 is projected to decrease by 1,551 kb/d to 84,507 kb/d. March/April production drops by more than 10,000 kb/d due to the Iran/US war. April production at 75,747 is 10,722 lb/d lower than March 2026. The 12-month centred moving average shown at July 2027 is 86,462 kb/d vs the September 2018 12-month CMA of 82,962 kb/d. For December 2027, production is projected to be 87,253...
Krot Studio/iStock via Getty Images It should not surprise anyone that coding has found the most product market fit in AI, but it is notable how much it surpasses everything else in the enterprise segment so far, which explains so much why Anthropic ( ANTHRO ) has been on a tear. a16z recently highlighted AI’s adoption and use cases of AI in the enterprise world. From a16z : “On the revenue moment...
Krot Studio/iStock via Getty Images It should not surprise anyone that coding has found the most product market fit in AI, but it is notable how much it surpasses everything else in the enterprise segment so far, which explains so much why Anthropic ( ANTHRO ) has been on a tear. a16z recently highlighted AI’s adoption and use cases of AI in the enterprise world. From a16z : “On the revenue momentum, enterprise adoption of AI is dominated by a clear set of use cases and industries. Coding, support, and search represent the lion’s share of use cases by far (with coding being an order-of-magnitude outlier even among this set), while the tech, legal, and healthcare sectors have been the industries most eager to adopt AI.” It may be obvious to most people, but it is still worth spelling out why coding is such a perfect use case for AI. Again, from a16z (emphasis mine): In many ways, coding represents the ideal use case for AI, both in terms of what the technology can do and how readily the enterprise market will embrace it. Code is data dense, meaning there is a massive amount of high-quality code available online for the models to train on. It is also text-based, making it easy for models to parse. It is precise and unambiguous, with strict syntax and predictable outcomes. And crucially, it is verifiable: anyone can run it and know if it works, creating tight feedback loops for models to learn from and improve . Anthropic has been quite focused on nailing the coding use case for the last couple of years, as they believe it can not only accelerate their own research but also provide the most compelling economic return. From Sholto Douglas on a podcast 6 months ago on why Anthropic has been so focused on coding (emphasis mine): Two reasons.First, we think it’s the thing that will allow us to assist ourselves in AI research faster. There’s this notion of automating AI research. The speed of takeoff—the speed of progress—is driven by how much AI can assist AI research. Pre...
Japanese chemicals maker Asahi Kasei Corp. says it’s working to diversify sources of naphtha as the war in the Middle East curbs supplies. The company is sourcing the key petroleum product used in plastics-making from the US, Central and South America, Africa and Central Asia, President Koshiro Kudo said at a press conference in Tokyo on Wednesday. Asahi Kasei is working closely with the governmen...
Japanese chemicals maker Asahi Kasei Corp. says it’s working to diversify sources of naphtha as the war in the Middle East curbs supplies. The company is sourcing the key petroleum product used in plastics-making from the US, Central and South America, Africa and Central Asia, President Koshiro Kudo said at a press conference in Tokyo on Wednesday. Asahi Kasei is working closely with the government to broaden its supply, he said. Petroleum-products markets have been upended by the war, as the conflict centered on Iran has curtailed production and closed key shipping routes. Japan is particularly vulnerable as the country typically gets around 60% of its naphtha from overseas, and relies on the Middle East for more than 70% of those flows, according to the Japan Petrochemical Industry Association. Some plastics makers have already declared force majeure in recent weeks. Read More: Shortage of Naphtha Threatens Supply Chain Chaos in Japan Japanese Prime Minister Sanae Takaichi said earlier this month that the country has enough supplies to cover at least four months of its demand for the product. That included about two months of shipments from abroad and volumes from domestic refiners, as well as an additional two months of inventories of intermediate chemical products derived from naphtha, she said. While it stands to be “incredibly tough,” Asahi Kasei should be able to continue procuring naphtha beyond May due to diversification strategies, Kudo said. Still, the company will have “no choice but to ask” for price hikes on a wide range of products due to the supply-chain disruption, he said.
Dmitry Shevelenko, Chief Business Officer at Perplexity, discusses the company's growth and new product push of Perplexity Computer, in improving search functions from AI technology for its customers. He speaks exclusively with David Ingles and Yvonne Man on the sidelines of the HSBC Global Investment Summit in Hong Kong on "Bloomberg: The Asia Trade." (Source: Bloomberg)
Dmitry Shevelenko, Chief Business Officer at Perplexity, discusses the company's growth and new product push of Perplexity Computer, in improving search functions from AI technology for its customers. He speaks exclusively with David Ingles and Yvonne Man on the sidelines of the HSBC Global Investment Summit in Hong Kong on "Bloomberg: The Asia Trade." (Source: Bloomberg)
Citi has reiterated its "Buy" rating on Amazon (AMZN.US), with the acquisition of Globalstar accelerating its low-orbit satellite direct-connect device strategy. 富途牛牛
Citi has reiterated its "Buy" rating on Amazon (AMZN.US), with the acquisition of Globalstar accelerating its low-orbit satellite direct-connect device strategy. 富途牛牛
Chip stocks surge! NVIDIA achieves a strong 10-day consecutive rise, AMD soars 30% in ten days, and the Philadelphia Semiconductor Index continues to hit new highs. 富途牛牛
Chip stocks surge! NVIDIA achieves a strong 10-day consecutive rise, AMD soars 30% in ten days, and the Philadelphia Semiconductor Index continues to hit new highs. 富途牛牛
星展集团私人银行负责人称，鉴于市场波动的常态化，欧美富裕客户寻觅在亚洲的投资和财富管理选项，以防投资组合受到冲击。 Joseph Poon在新加坡举行的金融时报财富管理会议上表示，这些地区的富豪有的寻求投资企业，有人则考虑在亚洲设立第二家族办公室。他表示，鉴于地缘政治局势动荡、能源成本不断上涨以及资本流动日益联系紧密，人们“普遍更加谨慎”。 随着贷款利差收窄，星展更加倚重财富管理业务来提振增长。去...
星展集团私人银行负责人称，鉴于市场波动的常态化，欧美富裕客户寻觅在亚洲的投资和财富管理选项，以防投资组合受到冲击。 Joseph Poon在新加坡举行的金融时报财富管理会议上表示，这些地区的富豪有的寻求投资企业，有人则考虑在亚洲设立第二家族办公室。他表示，鉴于地缘政治局势动荡、能源成本不断上涨以及资本流动日益联系紧密，人们“普遍更加谨慎”。 随着贷款利差收窄，星展更加倚重财富管理业务来提振增长。去年，星展及其本地竞争对手从富裕客户共计吸引770亿新元（约610亿美元）的净新增财富。随着今年美国与伊朗战争爆发，资金吸引效应可能进一步增强。伊朗冲突扰乱了全球市场，促使亚洲各地的富裕家族重新评估资金投资目的地，寻找安全避风港。 曾供职于 瑞银 和瑞士宝盛的Joseph Poon表示，波动性“如今已成为一种特征，而不是缺陷”。 责任编辑：于健 SF069
J Studios/DigitalVision via Getty Images Indra Sistemas stock ( ISMAY , ISMAF ) has lost a little over 8% of its value since my last report . Some investors believe that Indra Sistemas may not be attractive because of the left-leaning government in Spain, which is hesitant to increase defense budgets. However, I do believe that Spain’s hesitance to increase defense budgets in line with NATO and Eu...
J Studios/DigitalVision via Getty Images Indra Sistemas stock ( ISMAY , ISMAF ) has lost a little over 8% of its value since my last report . Some investors believe that Indra Sistemas may not be attractive because of the left-leaning government in Spain, which is hesitant to increase defense budgets. However, I do believe that Spain’s hesitance to increase defense budgets in line with NATO and European allies actually provides upside for Indra for the simple reason that Spain will want to keep most of its defense budget euros in the country, and European partners are also more likely to contract with Indra Sistemas to get Spain more aligned on the defense budgets. That should position Indra Sistemas as a strong defense company rooted in IT and engineering know-how to support Europe’s push for security autonomy . We also note that the stock price has more than doubled in a little over a year , putting the recent 8% decline in context. In this report, I discuss Indra’s financial results in 2025 and assess the outlook for 2025 while I update my price target in support of my buy rating. Indra Sistemas Grows And Invests In The Business Indra Sistemas In 2025, revenues climbed 12.7% to €5.5 billion, with order intake of €12.8 billion, indicating a 2.3x book-to-bill ratio. With a backlog of €16.1 billion, this paves the way for significant growth in revenues and scale of the company in the years ahead. EBITDA grew 11.7% to €636 million, with margins growing 40 basis points to 11.7%. Operating income grew 15.4% to €591 million, with margins lifted from 10.6% to 10.7%. The company’s free cash flow grew 11% to €364 million. The margin expansion is relatively modest, and one may wonder why operating leverage is not driving the margins up substantially. The reason is that the business is scaling. Hiring is increasing and capacity investments are being made, and new production capacity needs to ramp up, meaning that there is a temporary margin headwind, and acquisitions more of...