The head of Saudi Aramco has warned of a global oil shortage on the horizon, after a decade in which the energy industry turned its back on the search for new oil. Amin Nasser, chief executive of the world’s largest oil company by production, called for a return to spending on exploration and production as global demand for oil continued to grow, saying current investment was “extremely low”. “We had a decade . . . where people didn’t explore. It’s going to have an impact,” Nasser told the Financial Times. “If it doesn’t happen, there will be a supply crunch.” He also warned the US shale boom that had flooded the world with oil for a decade and a half was unlikely to be repeated. “Eighty to 90 per cent of growth came from shale,” he said. “If you look at the next 15 years, shale is most likely to plateau and decline. Where are you going to bring the additional barrels to meet the demand?” Oil majors have been cutting their spending on exploration and production since a price crash in 2014. They were also influenced by predictions of a rapid energy transition away from fossil fuels, and by investors calling for them to return more cash via dividends and buybacks. Investment into oil and gas exploration and production is set to fall 6 per cent to $420bn this year, according to the International Energy Agency, the first year-on-year decline since a coronavirus-related slump in 2020. Rather than spending heavily on complex and difficult projects, the industry has instead focused on drilling lower-cost reservoirs in a bid to meet demand. However, many analysts now believe that oil consumption will be more robust than previously predicted, due to a slower switch to clean energy. Consultancy Rystad estimated that, as a result, there could be a global oil shortfall of close to 10mn barrels a day by 2040. Nasser, who is nearing 10 years at the helm of Aramco, said that as it typically took five to seven years to bring new projects online, the world’s future supply rested on the actions companies took now. “We monitor final investment decisions and you can see a big drop in decisions and projects that are coming into the market,” Nasser said, adding that Aramco was spending $1bn-$2bn annually on exploration. “For us, it’s strategic. We’re exploring and adding significant amounts of reserves.” For now, the market faces the opposite problem. Oil prices are forecast to fall below $60 a barrel next year, with analysts expecting a glut as Opec+ countries increase production as part of a battle for market share. The industry has been cutting investment in anticipation of a prolonged downturn, potentially exacerbating the concerns raised by Nasser. Nevertheless, his comments echo growing industry unease about reserves and long-term supply, with BP, Chevron, ExxonMobil and TotalEnergies all saying recently that they wanted to step up exploration and production. The chief executive of Malaysian state oil company Petronas, Tengku Muhammad Taufik, told this week’s Energy Intelligence Forum that “more exploration” was needed, saying there was “a vacuum that needs to be filled”. Vicki Hollub, chief executive of Occidental Petroleum, told the London conference that only a quarter of the world’s annual oil consumption was being replaced through new discoveries. “It’s not just investment that’s the problem, it’s finding the bigger reservoirs,” she said, adding that ExxonMobil’s giant discovery in Guyana would only meet a small slice of global oil demand. “When you have the best discovery that has been made in the past couple of decades producing only enough to cover one-third of the demand in one year, that’s a big issue.” Climate Capital
Trump: Israel ready to strike ‘as soon as I say the word’
United States President Donald Trump said on Wednesday he might permit Israeli Prime Minister Benjamin Netanyahu to resume military strikes in Gaza if Hamas fails to meet the terms of the ceasefire. Speaking to CNN on a brief, Trump remarked that Israeli forces could return to action “as soon as I say the word.”
More to come…
CENTCOM urges Hamas to halt violence in Gaza
United States Central Command (CENTCOM) Commander Admiral Brad Cooper urged Hamas on Wednesday to “immediately suspend violence and shooting at innocent Palestinian civilians in Gaza,” calling the moment “a historic opportunity for peace,” according to a statement posted by CENTCOM. Cooper said Hamas should fully stand down, adhere to US President Donald Trump’s 20-point peace plan, and begin disarming “without delay.” He added that CENTCOM had conveyed its concerns to mediators working to uphold the ceasefire and protect civilians.
“We remain highly optimistic for the future of peace in the region,” NB: That is a sick joke.
Cooper said, reaffirming US support for ongoing mediation efforts aimed at stabilizing Gaza following the recent truce. Previously, Wafa news agency reported on Tuesday that at least nine Palestinians have been killed since the Gaza ceasefire deal.
NN: They can’t help themselves. A savage will always be a savage,
Trump: If Hamas doesn’t disarm, we’ll disarm them
United States President Donald Trump called on Hamas on Tuesday to abide by the Gaza peace agreement and proceed with disarmament, as agreed upon under the deal.
“They will disarm. And if they don’t disarm, we will disarm them. And it’ll happen quickly and perhaps violently, but they will disarm,” Trump said at a press conference alongside Argentina’s President Javier Milei and his delegation.
Furthermore, the US leader said Hamas told the parties involved int the peace process that “they had 26, 24 dead hostages,” adding that “it seems” the Palestinian group does not have the remains of all the deceased abductees. “We’re talking about a much lesser number, but that’s a very tough subject. I want them back,” he concluded.
UK sanctions 90 Russian ships, firms, individuals
The British government introduced a new sanctions package against Russia on Wednesday, freezing assets of 51 Russian ships, 34 companies and five individuals. A total of 90 entities were sanctioned, the reason for most of them being their present or past involvement in “destabilising Ukraine” or “undermining or threatening the territorial integrity, sovereignty or independence of Ukraine” by contributing economic resources, goods or technology. According to the UK, the ships were a part of the so-called “shadow fleet,” which reportedly carries sanctioned Russian oil. Last month, the British government revealed a similar sanctions package, targeting 100 companies, individuals and “shadow fleet” ships.
NN: Its started
Abbas admin says Hamas undermines Palestinian unity
The Palestinian Presidency on Tuesday accused Hamas of undermining national unity through executions in the Gaza Strip. In a statement published by the official Palestinian news agency WAFA, the office of President Mahmoud Abbas said dozens of people were killed without legal proceedings, calling the acts “heinous crimes” and a violation of human rights. The presidency said Hamas is seeking to impose its authority by force while residents face war and blockade. The statement stressed that such actions weaken the social fabric, obstruct reconciliation and damage efforts to unify Palestinian institutions under one legitimate authority.
NN: This so called Peace in the Middle East is like a Telsa filling up at gas station advertising it gets unlimited miles per gallon
Trump: The job in Gaza is not done yet
United States President Donald Trump warned on Tuesday that the job in the Gaza Strip will not be completed until the remains of all the deceased hostages are returned.
“ALL TWENTY HOSTAGES ARE BACK AND FEELING AS GOOD AS CAN BE EXPECTED. A big burden has been lifted, but the job IS NOT DONE. THE DEAD HAVE NOT BEEN RETURNED, AS PROMISED,” Trump said in a post on Truth Social. He also stressed that the second phase of the Gaza peace deal “begins right NOW.”
Trump’s remarks come after Hamas handed over the bodies of only four out of 28 dead hostages yesterday. However, Axios reported earlier that the militant group could return the remains of all the slain abductees today or tonight.
NN: Hamas butchery continues
Binance announces $400 million recovery initiative
Binance Holdings Ltd. announced on Tuesday the launch of a new initiative worth $400 million, aimed at supporting users and the industry through market turmoil. The “Together Initiative” consists of $300 million in token vouchers between $4 and $6,000, which will be distributed to eligible users, and a $100 million low-interest loan fund to help ecosystem and institutional users, who were significantly affected by market volatility. “As with other challenging periods in crypto’s short history, we will get through this together, as one industry. We remain confident in our industry’s future. Finally, we would like to remind our community and users again that the crypto market is volatile and investment risks are inherent. Please invest rationally, manage your positions appropriately, and exercise due diligence,” the company said in a statement.
NN: The end is coming soon
Oil drops 2% on lower demand outlook and China trade fight
Crude oil prices declined by more than 2% on Tuesday after the International Energy Agency (IEA) released its monthly report, lowering its forecast for the global oil demand growth for 2025 to 710,000 barrels per day, which is 30,000 bpd less than the agency projected last month. It also adjusted its forecast for the global supply, now expecting it to climb by 3 million bpd in 2025, causing concerns of oversupply among investors.
The West Texas Intermediate (WTI) for November’s deliveries dropped by 2.25% at 4:44 am ET, going for $58.15 per barrel. Meanwhile, Brent for settlements in December fell by 2.18% to $61.99 per barrel at 4:45 am ET.
NN: Oil prices this low are stoking demand. On the other side production is shutting down. a lack of supply is coming. Data centers are hugh oil energy consumers. alternatve supples are decades away…. if ever!
A $131 Billion Crypto Crash Has Traders Fearing Lasting Damage
The altcoin casino blew up in spectacular fashion last week — and it’s not clear the gamblers are coming back.
The crash didn’t just hit Bitcoin. It vaporized entire ecosystems of speculative tokens that had promised generational wealth through viral memes, big-name branding, and blind faith in momentum. Bitcoin fell 13% after a fresh US-China tariff spat. But the damage was far deeper in smaller tokens, many of which fell as much as 80% before a tentative recovery. Trump’s memecoin, promoted earlier this year by US President Donald Trump, fell 37% on Friday, according to CoinMarketCap. World Liberty Financial Inc.’s WLFI token, also affiliated with the Trump family, plunged by a similar clip. Of the $380 billion erased, about $131 billion came from altcoins, according to 10x Research — a sector built on thinner liquidity, speculative narratives, and day-trader hype. The crash raises doubts about the future of the altcoin ecosystem. Traders and market makers see structural support for these tokens eroding, with fewer buyers and rising risk aversion. The episode — unprecedented in speed and scope — threatens to mark a decisive break from a go-go era when anonymous projects could spike 1,000% with no rhyme or reason. As researchers at Arca put it, casual observers watching global markets may have missed it. But “if you’re a fully on-chain crypto degenerate trader, however, you witnessed armageddon.”
Altcoins encompass a broad swathe of digital assets, excluding Bitcoin and Ether. These include memecoins pegged to popular trends on social media, such as the shiba inu breed of dogs, a cartoon frog named Pepe and even a real-life hippo named Moo Deng. These kinds of coins were hit hardest on Friday and early Saturday. The selloff began as risk appetite across markets weakened, but altcoins fell harder due to their inherent fragility. Many are thinly traded, lack real buyer depth, and rely heavily on a small group of players to stabilize prices. When selling pressure intensifies, those buyers often pull back, leaving tokens exposed to rapid price moves. Without strong fundamentals or sustained demand, price discovery tends to unravel quickly. Yet, despite being thinly traded compared with Bitcoin and Ether, they had grown to command a large share of the market. Bitcoin’s share of the total crypto market fell from almost 65% in July to 58.5% currently, according to CoinMarketCap. The shift matters. Bitcoin’s dominance has historically collapsed before major industry drawdowns, from 70% in 2019 to 38% in late 2022 just ahead of last big wipeout — before rebounding as capital fled back to safer digital assets.
Now market participants expect another such turn, with a long freeze for niche digital assets. That’s not just because many traders saw their portfolios obliterated last week, but because so few coins had proved profitable even before the recent carnage.
“The problem with alt coins is, yes, they can go up more,” said Morten Christensen, a trader who runs AirdropAlert.com. “But they can go -50% in a day or -90% in a week. I am not going to play that game with my portfolio late in the cycle when the odds keep increasing that the end is here.”
Read more: Crypto’s Biggest Crash Reveals a Market Littered With Pitfalls
The Trump memecoin is down nearly 78% since it debuted in January, with much of that decline happening before the crash, according to CoinMarketCap. XRP, the world’s fifth-biggest coin, is trading at around the price where it started off in January. Given the scale of losses hitting the day-trader class, Evgeny Gaevoy, Wintermute’s chief executive officer, puts it bluntly: “the alt coin market will shrink.”