JPMorgan expresses concern over potential energy supercycle leading to oil prices surging to $150.

 

Christyan Malek, who heads JPMorgan’s EMEA energy stock research, issued a warning to investors on Friday, suggesting that the recent increase in Brent crude oil prices would persist and potentially reach $150 per barrel by 2026, as outlined in a recent research report.

Several factors contributed to the cautionary $150 price projection, including capacity disruptions, the possibility of an energy supercycle, and global efforts to transition away from fossil fuels.

Production cuts by OPEC+, primarily led by Saudi Arabia, which resulted in a reduction of nearly 1 million barrels per day (bpd) from the market, coupled with Russia’s embargo on fuel exports, caused a surge in crude oil prices. Alongside supply limitations, heightened demand for crude oil pushed prices higher, subsequently impacting consumer costs.

As of Friday afternoon, Brent crude prices were hovering around $93.55. Malek anticipates that these prices could range from $90 to $110 next year and potentially increase further by 2025.

Malek cautioned, “Prepare for a highly volatile supercycle,” as he raised concerns about OPEC’s production cuts and the insufficient investment in new oil production.

JPMorgan also warned that OPEC+ might introduce an additional 400,000 bpd to global supplies, and Russia’s oil exports could rebound by mid-year.

The financial institution also predicted that oil prices were unlikely to reach $100 per barrel in the current year unless a significant geopolitical event rattled the markets.

At the time, JPMorgan’s demand growth forecast for China stood at 770,000 bpd, which was lower than the projections of OPEC and the IEA.

According to JPMorgan, the existing imbalance between global supply and demand is expected to reach 1.1 million barrels per day (bpd) in 2025 but could escalate to a shortfall of 7.1 million bpd by 2030, as robust demand continues to outstrip limited supply.




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Global energy efficiency progress is accelerating, signalling a potential turning point after years of slow improvement.

 

Energy efficiency actions have accelerated globally in 2022 as governments and consumers have increasingly turned to efficiency measures as part of their responses to fuel supply disruptions and record-high energy prices, indicating a potential turning point after several years of slow progress.

Global investments in energy efficiency – such as building renovations, public transport and electric car infrastructure – reached USD 560 billion in 2022, an increase of 16% on 2021, according to the IEA’s latest market report, Energy Efficiency 2022.

Preliminary data indicate that in 2022 the global economy used energy 2% more efficiently than it did in 2021, a rate of improvement almost four times that of the past two years, and almost double the rate of the past five years. If the current rate of progress can be built upon further in the coming years, then 2022 could mark a vital turning point for efficiency, which is one of the key areas for international efforts to reach net zero emissions by 2050.

The IEA analysis found that, thanks to energy efficiency actions taken since 2000, total energy bills in IEA countries in 2022 are set to be USD 680 billion less than they would have been otherwise – or around 15% of their total energy expenditure this year – with past investments in building insulation and efficient cars saving many consumers thousands of dollars each year.

The global energy crisis sparked by Russia’s invasion of Ukraine has dramatically escalated concerns over energy security and the inflationary impact of higher energy prices on economies and people’s livelihoods around the world. The IEA report stresses that more efficient use of energy is the first and best response.





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Standard Chartered Bank partners with Cummins Technologies to digitalise last-mile incentive payments to mechanics .

Standard Chartered Bank, India, today announced that it has partnered with Cummins Technologies India Private Limited (“Cummins Technologies”), to digitalise the last-mile incentive payments for mechanics through the latter’s Saathi app.

Mechanics enrolled under the Cummins MITWA Mechanic Loyalty Program (MLP) will receive incentives earned on the purchase of Cummins products instantly in their bank accounts through IMPS/UPI solution from Standard Chartered Bank. Cummins MITWA MLP is a QR code-based program that allows MITWA mechanics to redeem points and earn incentives by scanning the QR code on product packs with the Cummins Saathi app.




The app has made it easier to manage redemption coupons, encouraging MITWA mechanics to open bank accounts and inculcate a savings mindset. Additionally, it offers mechanics a reliable way to identify genuine Cummins parts, helping them build customer credibility. Backed by Cummins’ brand promise of innovation and dependability, the MLP helps in propagating the importance of using Genuine Cummins Parts for enhancing vehicle performance, reliability, and durability.






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Humans Have a Third Set of Teeth. New Medicine May Help Them Grow.

 

A 2021 study out of Japan showed how targeting genes can regrow teeth in animals. Now, the team has turned to a human clinical trial.
By targeting the USAG-1 gene, researchers believe that they can help people without a full set of teeth regrow teeth.
The team says that humans have a third set of teeth available as buds, ready to grow as needed.

A sliver of what makes sharks so intriguing comes with their ability to regrow teeth. And while a group of Japanese researchers aren’t claiming that we should be trying to be the most shark-like possible, they’d like for us to maybe, someday, share that same ability.

Following up on a 2021 study (published in Scientific Reports) that showed how medicine targeting the protein synthesized by the USAG-1 gene could impact the number of teeth grown in animals, the team has turned its attention to humans. They’ve announced a 2024 clinical trial of the medicine, which they in turn hope to have ready for general use in 2030.




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Theorists unearth new link between entanglement and classical mechanics.

Physicists at Stevens Institute of Technology in New Jersey, US have found a new and surprising link between the wave properties of light and the mechanical properties of point masses.

Their finding bridges the gap between classical mechanics and the optics of coherent waves via theories put forward 350 years ago by the Dutch mathematical physicist Christiaan Huygens.

Huygens’s biggest discoveries came in the two most prominent fields of 17th-century physics: optics and mechanics. Among other advances, he was the first to propose (in the 1670s) a wave description of light that accounts for optical propagation as well as important phenomena such as interference, diffraction and polarization that were observed later.

He also worked on the mechanical concepts of centre of mass and moment of inertia, which are the two fundamental properties that describe how rigid bodies move.


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