Bloomberg Oil prices have surged more than 75% in the US this month. But don’t expect a quick rebound in supply from shale explorers. The quick turnaround in oil markets is exposing the shale industry’s big weak spot: Lightning-fast production declines. Shale gushers turn to trickles so quickly that explorers must constantly drill new locations to sustain output. And they ...

The Trump administration sent a characteristic mixed message on arms control: It announced a plan to quit the “Open Skies” agreement with Russia, even as it proclaimed its eagerness for a wider arms-control process that would include both Russia and China. Many analysts focussed on the treaty withdrawal as a sign of worsening relations with Russia, but I think there’s ...

The coronavirus has disrupted the world in very large ways. While that battle has been waged, however, another event has almost been missed: the birth of a new kind of fiat currency, which could forever reshape the relationship between money, economic power and geopolitical clout. An official Chinese digital yuan, more than five years in the making, is now in ...