Before the end of this decade, the world’s third-largest crude oil importer, India, is set to become the single biggest driver of global oil demand, replacing China, analysts and forecasters say. India’s economy has grown at a robust pace over the past year. Meanwhile, growth in other major economies—including China—has sputtered. High GDP growth, industrialization, urbanization, and a rising number of middle class in India are all expected to shift the key oil demand growth driver from China onto India. Читать дальше...
We are still in the early innings of the earnings season, with only ~15% of S&P 500 companies having returned their Q4 2023 earnings scorecards. According to FactSet data, of these companies, 62% have reported earnings above Wall Street estimates, considerably lower than the 5-year average of 77% and the 10-year average of 74%. The (blended) net profit margin for the S&P 500 for Q4 2023 is 10.7%, which is below the previous quarter’s net profit margin (12.2%), below the year-ago net profit margin (11.2%)... Читать дальше...
For decades, China has been a key driver of global economic growth thanks to an economy that managed to maintain blistering growth for what seemed like forever. China’s economy ballooned from $1.2 trillion in 2000 to nearly $18 trillion in 2021, good for a nearly 10% annual clip ever since Beijing embarked on economic reforms in 1978. The country's gross domestic product (GDP) per capita, adjusted for inflation, rocketed from $293 in 1985 to more than $12,000 in 2021, one of the greatest economic transformations of modern times. Читать дальше...
Hot off the heels of another tumultuous and eventful year for the global energy landscape, 2024 is already continuing the trend of disruptions, headwinds and opportunities. Last year ended with a momentous agreement at COP28 to cut global methane emissions, a significant contributor to emissions worldwide. The coming year will be another rollercoaster ride for the industry, posing important questions about whether the net-zero targets outlined in the Paris Agreement can be achieved. Elections, supply... Читать дальше...
As noted earlier, with all eyes on Tesla when the company reports Q4 earnings and updates its shareholders on numerous new developments as the stock continues slumping to start 2024, here is what the street expects from Q4. Tesla is anticipated to announce a revenue of $25.87 billion, marking a 6.4% increase from the previous year. Analysts are looking for EPS of $0.73, amounting to an adjusted net income of $2.61 billion, a 36.4% decrease from the same period last year. As Bloomberg noted yesterday... Читать дальше...
The Chinese economy is changing, and the aftershocks of its tectonic shift will be felt around the world. After decades of growth and massive infrastructural buildout, the capacity for further additions is diminishing. As a result, China’s economy is slowing down, the nationwide property bubble is bursting, and unemployment rates are punishing. A record high of 11.79 million students are expected to graduate from university this year in China, at which point they will join legions of jobseekers,... Читать дальше...
