Source: Arab News
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
FC Barcelona Fears First Team Star Will Be Banned From Playing, Reports SPORT
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Thursday 11 July 2024 12:52:00
IEA: Global Oil Demand Continues to Slow Amid EV Boom and Economic Headwinds
World oil demand decelerated in the second quarter, with growth easing to 710,000 barrels per day year-on-year, driven by rising adoption of electric vehicles and economic headwinds, an analysis showed.
In its latest report, the International Energy Agency said that demand growth in the second quarter was also the slowest increase since the fourth quarter of 2022.
The think tank also forecast an oil demand growth of 970,000 bpd in 2024, largely unchanged from its outlook last month.
The projection made by the energy agency contradicts the view of OPEC, with the oil producers’ alliance expecting strong demand growth in 2024 and 2025.
In its monthly report on June 10, OPEC noted that world oil demand will rise by 2.25 million bpd and 1.85 million bpd in 2024 and 2025, driven by markets including China, the Middle East, India, and Latin America.
Outlining the reasons for its lower estimate, the IEA report said: “Chinese consumption contracted, as the country’s post-pandemic rebound has run its course. Global gains are forecast to average just below one million bpd in 2024 and 2025, as subpar economic growth, greater efficiencies and vehicle electrification act as headwinds.”
It added: “Demand for industrial fuels and petrochemical feedstocks was particularly weak.”
The energy think tank further revealed that the global oil supply rose by 150,000 bpd to 102.9 million bpd in June.
The analysis also projected global refinery throughputs rising by 950,000 bpd to 83.4 million bpd in 2024, and by 630,000 bpd to 84 million bpd next year.
Amid IEA’s projected slowdown in oil demand growth, OPEC is optimistic about the future, and the producers’ alliance believes its forecast is more accurate.
Speaking at the International Economic Forum in June, Haitham Al-Ghais, secretary-general of OPEC, said that the world will witness continued oil demand driven by a rebound in the travel and tourism sector.
He also added that OPEC is working to ensure supply, stability, and resilience of the oil market.
“It is important to remain focused on the fundamentals. We look at economic growth, We look at supply, we look at demand, and yes, we do still believe demand for oil is good and resilient,” said Al-Ghais.
He added: “Last year, OPEC’s forecast for oil demand was the best. And all those who criticized OPEC’s forecast kept adjusting their number throughout the year.”
