US

US achieves new oil production record in May

The American Petroleum Institute released its latest Monthly Statistical Report and API Industry Outlook outlining the increased growth and resiliency of the US natural gas and oil industry. Namely, US crude oil production reached a new all-time high of 12.2 million barrels per day in May 2019.

US now more focused on developing Artificial Intelligence

US Secretary Rick Perry welcomed President Trump’s Action on A.I, while also announcing an XLab Summit on Artificial Intelligence in Chicago. This came after the Trump Administration published the National AI R&D Strategic Plan: 2019 Update.

US-Iran tensions increase oil prices

Oil prices increased as tensions remain high between Iran and the US. What is more, the US Secretary of State Mike Pompeo talked about significant sanctions against Iran, which could be announced soon. Brent futures were up 25 cents, an increase of 0.4%, reaching $65.45 a barrel. In addition, West Texas Intermediate crude was up 37 cents, or 0.6%, at $57.80 a barrel.

US sees more countries tangled in human trafficking through fishing industry

The 2019 Trafficking in Persons report, was published by US Secretary of State Michael R. Pompeo, focusing on government efforts to tackle human trafficking and highlights strategies to address this crime and protect the victims. This year’s report, the 19th installment, includes narratives for 187 countries and territories, including the U.S.

Port of LA condemns new tariffs on Chinese goods

The Port of Los Angeles issued a letter to U.S. Trade Representative Robert Lighthizer, commenting that the impacts that will come from the proposed tariffs include higher consumer prices, lower profitability for American firms, and uncertainty in the maritime supply chain.

Indian Ministry of Defence deploys two vessels in Gulf of Oman

The Indian Ministry of Defence announced that the Indian Navy deployed two vessels in the Gulf of Oman to secure Indian flagged vessels, following the recent attack on two tankers in the region. The Ministry issued a statement noting that in addition to deploying the two vessels, Chennai and Sunayna, ‘aerial surveillance by IN aircraft is also being undertaken in the area.’

Iran shoots down US surveillance drone in Strait of Hormuz

Amid a growing tension between the US and Iran in the light of the two tanker attacks in the Gulf of Oman last week, Iranian forces now have reportedly shut down a US military surveillance drone while flying over the Strait of Hormuz. 

Carnival Corp expects negative net income after Cuba ban

After President Trump’s decision on banning US cruises to Cuba, many were the cruise lines affected; Carnival Corporation published its yearly net income, according to which the cruise company faced a decrease following cruise bans to Cuba.

Four more crewmembers arrested in connection with Philly’s drug bust

According to local sources, four more crewmembers of the container ship MSC Gayane have been charged in connection with the discovery of 15.5 tonnes of cocaine on board. The sources couldn’t reveal more information on the crew members due to the fact that the investigation continues.

Strait of Hormuz the most crucial oil transit chokepoint

As EIA informs, the Strait of Hormuz is the world’s most important oil chokepoint due to the large volumes of oil that flow through the strait. In fact, in 2018, its daily oil flow averaged 21 million barrels per day (b/d), or the equivalent of about 21% of global petroleum liquids consumption.

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