Finland monitors Russian Zapad-2025 drills and warns of potential threats
Finland is closely watching Russia’s ongoing Zapad-2025 military exercises in Russia, Belarus, and the Baltic and Barents Seas, Finnish Defence Forc...
Oil prices rose on Wednesday, driven by tighter supply from OPEC members and Russia, alongside stronger-than-expected U.S. job data indicating economic growth and higher oil demand.
Oil prices climbed on Wednesday, fueled by tighter supplies from Russia and OPEC members, alongside data showing an unexpected rise in U.S. job openings, signaling economic growth and increased demand for oil.
Brent crude rose by 32 cents, or 0.42%, to $77.37 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 42 cents, or 0.57%, reaching $74.67.
A Reuters survey revealed that OPEC's oil output fell in December, reversing the increases seen in the previous two months. Maintenance work in the United Arab Emirates offset production gains in Nigeria and other OPEC countries.
Meanwhile, Russian oil output averaged 8.971 million barrels per day in December, falling short of the country's production target, according to Bloomberg.
On the economic front, U.S. job openings increased unexpectedly in November, and layoffs remained low. The Job Openings and Labor Turnover Survey (JOLTS) indicated that workers were also less willing to quit their jobs, a sign of labor market stability. Capital Economics noted that the data, combined with recent employment reports, pointed to a labor market approaching pre-pandemic levels.
In addition, U.S. crude oil stocks fell last week, while fuel inventories increased, according to data from the American Petroleum Institute.
Looking ahead, analysts predict that oil prices will average lower in 2025 compared to 2024, primarily due to rising production from non-OPEC countries. BMI, a division of Fitch Group, forecasts Brent crude to average $76 per barrel in 2025, down from $80 per barrel in 2024. Their bearish outlook is driven by expectations of oversupply, with production growth surpassing demand growth by 485,000 barrels per day.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
Finland is closely watching Russia’s ongoing Zapad-2025 military exercises in Russia, Belarus, and the Baltic and Barents Seas, Finnish Defence Forces (FDF) commander Janne Jaakkola said on Monday.
European authorities have intercepted more than 2,400 shipping containers at Greece’s port of Piraeus in the European Union’s largest-ever container seizure, valued at around €250 million ($294m).
U.S. President Donald Trump said on Monday that Israel will not carry out further strikes in Qatar following last week’s attacks on Doha, which targeted senior Hamas officials.
Leaders from the 57-member Organisation of Islamic Cooperation and 22-member Arab League met in Doha on Monday, concentrating on the impact of recent attacks on Qatar and the wider Middle East, and calling for coordinated measures to preserve stability and support ongoing mediation efforts.
U.S. President Donald Trump has signed a presidential memorandum establishing the "Memphis Safe Task Force,” which will deploy National Guard troops alongside federal agencies to tackle rising crime in Memphis, Tennessee.
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