IEA: Oil market tighter than it seems despite forecast surplus
The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising ref...
As pressure mounts over military spending and shifting defence priorities, top U.S. and South Korean generals have met in Seoul to reaffirm their alliance and address growing tensions surrounding cost-sharing and regional security.
The military chiefs of South Korea and the United States met in Seoul on Thursday amid tensions over defence cost-sharing related to the deployment of American troops, according to Yonhap News Agency.
South Korean Joint Chiefs of Staff Chairman Adm. Kim Myung-soo held talks with U.S. Gen. Dan Caine to discuss the alliance and regional stability. Their meeting precedes a trilateral dialogue in Seoul with Japan’s Gen. Yoshihide Yoshida.
Kim and Yoshida also met separately to address military cooperation and recent activities by North Korea’s forces.
Currently, 28,500 U.S. troops are stationed in South Korea, and over 50,000 in Japan under separate agreements. The Trump administration has renewed pressure on Seoul to increase its financial contribution to U.S. troop deployments.
South Korea maintains it will follow the 12th Special Measures Agreement, pledging 1.52 trillion won ($1.11 billion) in 2026 — up from 1.4 trillion won this year.
President Trump said Tuesday that Seoul pays “very little” and should bear greater responsibility for its defence.
A report by U.S. think tank Defense Priorities recently recommended reducing the U.S. troop presence in South Korea to around 10,000, citing limitations on Washington’s strategic flexibility.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
Washington and Ottawa are once again at odds, as President Trump unveils a sharp new tariff on Canadian goods—citing drug trafficking and trade disputes just weeks ahead of a key deadline.
France recorded over 100 drowning deaths in just one month — a 58% rise from last year — as unusually high temperatures drove more people to water, public health officials say.
Migration offset natural decline for the fourth consecutive year, pushing the European Union’s population to an historic high of 450.4 million in 2024, according to Eurostat figures released on Friday.
Germany’s public debt is projected to climb from 62.5% to 74% of GDP by 2030, driven by record defence and infrastructure spending, according to a report by the European rating agency Scope.
The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising refinery activity and seasonal summer demand as key drivers of short-term market pressure.
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