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Tesla settles case with employee accused of passing secrets to Chinese startup

Tesla settles case with employee accused of passing secrets to Chinese startup

Tesla has decided to settle a lawsuit against a former employee accused of copying the programming code of the electric car maker’s automated driving Device Technology, and passing it on to a Chinese startup, according to a US District Court.   Tesla had filed the lawsuit in 2019, saying its former employee, Cao Guangji, who worked at Tesla for two years, copied the programming before moving in…

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#case #china #employee #tesla

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Tesla settles case with employee accused of passing secrets to Chinese startup

Tesla has decided to settle a lawsuit against a former employee accused of copying the programming code of the electric car maker's automated driving Device Technology, and passing it on to a Chinese startup, according to a US District Court.   Tesla had filed the lawsuit in 2019, saying its former employee, Cao Guangji, who worked at Tesla for two years, copied the programming before moving in January 2019 to rival XMotors, the American subsidiary of Xpeng Inc, a Chinese self-driving car startup.   Details of the settlement, which included a cash payment that Kao made to Tesla, were not disclosed. Tesla did not immediately respond to a request for clarification.   Tesla's automated driving system is the driver assistance system, which displays driving tasks and allows drivers to get their hands off the wheel, although the company still maintains that this requires driver supervision, and does not make the car autonomous.   Tesla has a factory in Shanghai, putting it in direct competition with XPENG and other Chinese startups in the world's largest electric vehicle market.   A representative of Kao confirmed via a statement to Reuters that Kao never did, did not access any Tesla data after he left Tesla, or provided any information to X motors or anyone else.   The company told Reuters that Kao later left X motors, and X motors, in a statement earlier this week, said that X motors was not a party to the case, that it respects intellectual property rights, and relies on them to develop its own intellectual property, research and development internally.   The field of electric vehicles-both cars and aircraft - has become highly competitive and an area of mutual espionage and corporate litigation. This is taking place against the backdrop of a great rivalry between the United States and China for technological dominance in this field, and attempts by Europe to catch up with the two giants, especially in the field of developing electric batteries. In early April, the New York Times reported that Wisk aero, a startup developing an electric aircraft that takes off as a vertical hovercraft and then flies like an airplane, had filed a lawsuit against another startup, Archer aviation, accusing it of stealing trade secrets and violating Wisk's patents.   Wisc alleges in its lawsuit that the intellectual property, promoted by Archer, was stolen from engineers the company had hired from Wisc.   The lawsuit, filed in the U.S. District Court for the Northern District of California, accuses engineers of downloading thousands of files containing classified designs and data before leaving Wisc to join Archer. Wiske accused a third engineer of erasing the history of his activities from the computer before leaving for Archer.   Recall that companies such as Tesla and Panasonic, LG, and Kim Pi Wi de China CVC Kiev infusion, and its headquarters almost all in China, Japan, or South Korea, dominate the manufacture of batteries needed in electric vehicles; however, there are also many new players who enter the game down. And investors, feeling huge profits at stake, are throwing money at startups they believe are about to make breakthroughs.     #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

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Startups thrive on 15-minute delivery during pandemic

From milk to eggs to toilet paper, staff in central Moscow quickly fill shopping bags, in a scene that is also replicated in New York, as covid-19 delivers in just a quarter of an hour.   Launched in Moscow in 2019 as Lavka by Russian internet giant Yandex, the online service grew significantly during the public shutdown in the spring of 2020 and continues to expand around the world.   "Before the pandemic we were just ( ... ) an accessory for entertainment, but everything changed after the pandemic, especially at the beginning, when people were very nervous, "says Maxim avtokhov, 30.   The delivery services of the major store networks came under enormous pressure, which led to a significant slowdown in their speed, which led some customers to express delivery services by bicycle delivery workers transporting goods in smaller quantities prepared in "dark stores" closed to the public to avoid waiting long days for larger stocks, and since then many Muscovites have acquired these new habits.   "When we come back from work and look for something to eat, we can order a ready-made dish or products to prepare the dishes ourselves,"says lawyer Yuri Nekrasov, 32.   His family only goes to a shop once a week or two, where lavka also delivers drinks and canned food, as well as fresh produce.   The majority of the customers of the service are young people who are amateurs of modern technology and the affluent who want to make specific purchases, and while the price of products is higher than that found in stores, some basic products can be purchased at competitive prices.   Expansion around the world During the fourth quarter of 2020, service revenues exceeded 4 billion rubles (52.4 million), or 18% of Yandex's total taxi and meal delivery activities. Lavka is now active in several major Russian cities, and the company offers its services in Tel Aviv, with a planned launch in Paris in the second quarter of the year, followed by London.   At a warehouse in Moscow, kotman katanbek Oulu arrives with a yellow and black bag, before leaving with two orders side by side.   "We can make between 3,000 and 5,000 rubles a day (39 and6 66),"says the 18-year-old Kyrgyz.   On the other side of the world, on Park Slope Street in Brooklyn, New York, the scene is similar at the headquarters of the firm "Fridge no More".   A delivery worker with a blue and white backpack sets off to deliver two orders to a customer on a nearby street, before returning in a few minutes, in this place the founder of this startup wanted all its employees to be employees.   The Russian founders also say that the adventure began in 2019 with Anton gladkoborodov, 40, in New York, and Pavel Danilov, 38, in Moscow.   "We knew that the service was well received in Moscow, and we said to ourselves why not try it in New York?".   The pandemic has given a strong boost to their activity, with the startup making more than 15 million this spring and expecting to open dozens of new locations over the next 12 months in New York.   According to PitchBook analytics, more than 14 billion has been invested in global procurement delivery since early 2020, with the majority spent in 2021.   With covid-19, demand for delivery has increased significantly, according to Olivier Salomon of AlixPartners, a consultancy.   "But we don't know yet what will continue from the innovations that have emerged in the last 18 months, what will overwhelm, delivery speed or display capacity? It's hard to reconcile."   #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

[24buzzfeed]

Startups thrive on 15-minute delivery during pandemic

Startups thrive on 15-minute delivery during pandemic

From milk to eggs to toilet paper, staff in central Moscow quickly fill shopping bags, in a scene that is also replicated in New York, as covid-19 delivers in just a quarter of an hour.   Launched in Moscow in 2019 as Lavka by Russian internet giant Yandex, the online service grew significantly during the public shutdown in the spring of 2020 and continues to expand around the world.   “Before…

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#delivery #pandemic

[24buzzfeed]

What does our history with animals reveal about our future with robots?

Many people around the world believe that robots are the enemy of mankind, that they will dominate life with their super-artificial intelligence that will surpass human intelligence in the near future, or at the very least compete with us in work and jobs, because of which many professions will be lost, unemployment, poverty and queues of the unemployed will increase.   World cinema in general, and American in particular, has contributed to drawing this terrifying scenario of the future, under the dominance of robots. Who doesn't remember Will Smith's "I, Robot" directed by Alex Proyas, where robots rebel against humans and work to eliminate them, or the most famous film "The Matrix" starring Keanu Reeves and directed by sisters Lana and Lily Wachowski, where machines and artificial intelligence dominate humanity.   But is that really the truth? Will robots destroy the future of man on this earth? Is she really our enemy?   Why isn't the truth quite the opposite, Why aren't robots our partner, ally or even friend, or-at the very least - why don't we treat them the way we treat our pets in our homes and homes?   Favorite companion In the 2012 film Robot & Frank directed by Jake Shearer, the protagonist (Frank) suffers from early dementia, anxiety and guilt, having spent his life in robbery, looting, robbery and criminality.   To keep his secret, his son buys him a home robot that he can talk to and support, do household chores such as cooking and cleaning, and also reminds Frank to take medicine on time. Rank initially received the gift with a lot of fear, caution and suspicion, as he never imagined that one day he would live with a robot in one house, but over time the relationship is gradually closer between Frank and his robot companion.at the end of the film, the robot becomes Frank's best friend in his old years, but becomes closer to him than his dog or even his son. the film ends with a close relationship between Frank and his robot, so that Frank protects and defends the robot when they get into trouble in one of the scenes of the film. It is an imagined story, but it raises a lot of questions about the future, motivating us to explore other horizons of the human-robot relationship that seem inevitable to come unquestionably.   The new breed Dr. Kate Darling, a professor specializing in human-robot interaction and research on " robotics ethics "at the Massachusetts University of Technology (MIT) in the United States, examines in her new book" The New Breed", published by Henry Holt and Co.a few days ago, this possible human-robot relationship in the future, Darling says: we will be better prepared for the future if we deal with the next robots as we do with our pets, asserting that robots are the pets of the future in the age of artificial intelligence.   In her book, she asks a very important question: What does our history with animals reveal about our future with robots? The book discusses the history of man with the animal and the ways in which he dealt with it, up to domestication to become our companion and best friend in our fields, homes and homes.   In a recent interview with the Guardian, the author asserts that the problem is due to the erroneous view that humans view robots, "we treat them as our competition, and superior to us in IQ, and this is a view that limits our imagination to imagine the future of the relationship between humans and the machine based on artificial intelligence.. The researcher points out that this is just an analogy, robots and animals are not the same thing, but this analogy takes us away from the stereotype of the perception of robots as an enemy that should be wary of, opens our mind to the perception of different horizons in which robots are our partners, and gives us new possibilities in which artificial intelligence   As for the threat that robots pose to the future of work and jobs in the world, where many companies are currently seeking to replace robots with humans to do the work, Dr. darling stresses that this is not the fault of robots but of humans,and the responsibility of companies led by greed and the current capitalist system to exploit robots for more profit, and here it is just a tool   #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

[24buzzfeed]

What does our history with animals reveal about our future with robots?

What does our history with animals reveal about our future with robots?

Many people around the world believe that robots are the enemy of mankind, that they will dominate life with their super-artificial intelligence that will surpass human intelligence in the near future, or at the very least compete with us in work and jobs, because of which many professions will be lost, unemployment, poverty and queues of the unemployed will increase.   World cinema in general,…

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#animal #robot #tech

[24buzzfeed]

Apple leaks expert Chi Kuo talks about iPhone 14 specifications a year before its launch

Recent reports that a well-known Apple news expert (Apple) leaked some interesting details about the iPhone lineup for 2022 have revealed.   The iPhone 13 is expected to be released later this year, but analysts are already focusing on the "iPhone 14" as they predict that it will make some major changes. The 2022 flagship iPhones will use a 48 megapixel sensor for the main camera, said renowned analyst Ming-Chi Kuo.   According to the Mac Rumors website, Chi Kuo believes that this will allow to capture video with impressive 8K technology.   The analyst believes that iPhone devices may start using Face ID sensors embedded under the screen as a way to get rid of the bump on the iPhone's front screen, which may disappear completely with the 2023 releases.   Another theory of Chi Kuo is that the screen size options in the iPhone lineup will decrease by 2022. May not see the production of the iPhone mini (iPhone Mini) as in previous years.   Chi Kuo predicts that screen sizes of 6.1 inches and 6.7 inches will remain present in phones, as Chi Kuo has previously suggested that we may see fingerprint scanners under the screen in future iPhones.   As with all rumors and leaks, we will not know for sure how credible it is until Apple officially announces it.   #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

[24buzzfeed]

Apple leaks expert Chi Kuo talks about iPhone 14 specifications a year before its launch

Apple leaks expert Chi Kuo talks about iPhone 14 specifications a year before its launch

Recent reports that a well-known Apple news expert (Apple) leaked some interesting details about the iPhone lineup for 2022 have revealed.   The iPhone 13 is expected to be released later this year, but analysts are already focusing on the “iPhone 14” as they predict that it will make some major changes. The 2022 flagship iPhones will use a 48 megapixel sensor for the main camera, said renowned…

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#apple #iphone14 #leaks

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After seeing its impact during the pandemic.. World champion Kasparov adopts technology and offers his own chess platform

Chess legend Garry Kasparov has launched the Kasparov Chess platform-which took years to develop - funded by private investors and media conglomerate Vivendi.   It was "MasterClass" - a platform that offers classes produced by celebrities - that invited Kasparov to teach a class, which he soon became disturbed and realized that he had to downplay concepts and adhere to a certain structure that the platform followed. The "Kasparov shes a" platform where players chess freely share tips and tricks with players of different levels.   The platform includes documentaries, audio blogs, articles and interviews between experts and well-known players in the chess community.   "More than a thousand videos have been recorded so far, and apart from the content, the platform has an exclusive server attached to it,"Kasparov said.   In many ways, the platform is also an enlarged version of the master class chess lessons introduced years ago, with a strong focus on community and diversity.   Kasparov Chess can be joined with a monthly subscription of 13.99 or an annual subscription of 119.99, and the majority of lessons have experts and post-match analysis on the paid system.   The paid subscription system also gives users access to a database of 50 thousand hand-created puzzles, which allow players to practice certain skills. A well-known competitor to this platform is Chase com (Chess.com), which consists of a chess server, forum and network site launched in 2005, with a subscription of 5 per month or 29 per year.   "The platform's long-term goal is to connect global chess communities, discover players with skills, and give others access to their expertise," says Kasparov.   He believes that distance education during the pandemic has shown the need for more interactive solutions, and says "it's time to move from what we study to how we apply it to students."   Kasparov became the youngest World Chess Champion in 1985 at the age of 22, retired in 2005, and launched a foundation to help children get to chess around the world.   Kasparov recently helped advise on The Queen's Gambit, a drama about a girl who became a chess prodigy, which was widely watched on Netflix.   #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

[24buzzfeed]

After seeing its impact during the pandemic.. World champion Kasparov adopts technology and offers his own chess platform

After seeing its impact during the pandemic.. World champion Kasparov adopts technology and offers his own chess platform

Chess legend Garry Kasparov has launched the Kasparov Chess platform-which took years to develop – funded by private investors and media conglomerate Vivendi.   It was “MasterClass” – a platform that offers classes produced by celebrities – that invited Kasparov to teach a class, which he soon became disturbed and realized that he had to downplay concepts and adhere to a certain structure that…

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[24buzzfeed]

Super iPad and MacBook slimmer and faster.. That's what Apple announced at its conference

The live broadcast of the Apple conference held due to the pandemic over the Internet ended this evening and lasted for an hour, starting at 10am Pacific Time (5pm GMT).   This is the most important announcement during the conference: The conference began with a simple video about the company by Apple CEO Tim Cook talking about some simple information and the hope that the new year will be better for humanity.   IPad Apple has announced the arrival of the new iPad, as the high-end tablet iPad Pro has received many updates.   The most important update is the use of the M1 processor on modern Macs, thanks to which it is 50% faster than the current model. With an eight-core processor, this tablet is more powerful than most computers on the market.   Apple has also copied the liquid Ritina technology found in its XDR Super monitor and became the new iPad Pro.   It is a display that impresses you with its brightness, brightness and colors with a brightness of a thousand candles sometimes up to 1600 lumens, with a MicroLED inside that is very close to the OLED experience.   The iPad Pro supports the PlayStation 5 (PS5) joystick, and other features include support for 5G (5G) connections, up to 2TB of internal memory and a new, custom-designed 12-megapixel wide lens for the iPad Pro. Tracking device " air tags" As expected, Apple has finally launched its "AirTags" tracker to the world after being delayed several times.   Airtags, which recently launched on IOS, offers a "find me" or "find my" feature on its devices, which helps find lost Apple devices, and now it has added an external tool-outside of Apple products-that allows the feature to be linked to Apple's Bluetooth tracker, and uses cameras and sensors to accurately locate lost items.   The gadget will be available with accessories to tie it and will come as a 4-Piece Set priced at 99 for the set. IMac and MacBook The new iMac devices were announced with a new design and different colors, and the new iMac came with a better camera, significant sound improvements and a new Apple processor with a smaller size than the previous version.   The device received a sweeping design change this year, and the company introduced redesigned models with much thinner and smaller edges, with a 24-inch screen.   The new iMac devices come in a range of colors, such as silver, astronomical gray, green, sky blue and gold.   The company was able to reduce the size of the iMac by using the M1 processor, which it says impressed the market with its power, speed and battery availability. Other products Tim Cook talked about simple "important" updates to Apple's Podcast app, including the possibility of subscribing to podcasts with a payment.   The company also announced a new color for the iPhone 12, purple, which will be available for pre-order starting next Friday.   Apple also launched an updated Apple TV with a new processor and an improved remote control, with a storage capacity of up to 128 GB, or 256 GB.       #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

[24buzzfeed]

Super iPad and MacBook slimmer and faster.. That's what Apple announced at its conference

Super iPad and MacBook slimmer and faster.. That’s what Apple announced at its conference

The live broadcast of the Apple conference held due to the pandemic over the Internet ended this evening and lasted for an hour, starting at 10am Pacific Time (5pm GMT).   This is the most important announcement during the conference: The conference began with a simple video about the company by Apple CEO Tim Cook talking about some simple information and the hope that the new year will be better…

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#apple #new

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Bitcoin loses about 6,000 of its value due to profit-taking from traders

The price of the most prominent virtual currency unit bitcoin fell by more than 9.5%, or 5931, in morning trading on Sunday, due to profit-taking by traders, after a sharp rise last week.   By 07: 16 GMT, the price of a Bitcoin unit had fallen to 56.1 thousand, down from Saturday's closing price of 6 62.03 thousand per unit. Traders carried out extensive sales during the early hours, Sunday, to reap the profits they had achieved in last week's transactions, with the unit then rising to more than 64 thousand dollars, a historic high.   Experts and financial institutions around the world have long warned against the high volatility of virtual currencies because they are not based on hedging instruments such as gold, foreign exchange or major financial institutions.   The market capitalization of the virtual currency for the months was 1.049 trillion, spread over 18.685 million units traded out of 21 million units in global circulation.   Global demand for the most prominent virtual currency has grown, despite its high market value, amid reports that it could break The 100,000 barrier later this year.   Virtual currencies do not have a serial number and are not controlled by governments and central banks, like traditional currencies, but are only processed via the internet, without a physical presence.   #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

[24buzzfeed]

Bitcoin loses about 6,000 of its value due to profit-taking from traders

Bitcoin loses about 6,000 of its value due to profit-taking from traders

The price of the most prominent virtual currency unit bitcoin fell by more than 9.5%, or 5931, in morning trading on Sunday, due to profit-taking by traders, after a sharp rise last week.   By 07: 16 GMT, the price of a Bitcoin unit had fallen to 56.1 thousand, down from Saturday’s closing price of 6 62.03 thousand per unit. Traders carried out extensive sales during the early hours, Sunday, to…

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#bitcoin #cryptocurrency

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China.. Central bank examines digital yuan experience at Beijing 2022 Olympics

A central bank official said Beijing is considering the experience of using a Chinese digital currency during next year's Beijing Winter Olympics.   Li Bo, deputy governor of China's central bank, warned that China is not aiming to replace the digital yuan with the dollar and reduce its global dominance. He added that there is no timetable for the nationwide rollout of the digital yuan.   The central bank has been researching the use of digital yuan since 2014, and has finally implemented a number of experiments in several cities that have allowed citizens to use digital currency in their daily transactions.   Li Bo-at a sub-forum of the annual conference of the Boao Asian Forum on Sunday-mentioned that the people's Bank of China (the central bank) is studying regulations for bitcoin and stablecoins, the new China news agency (Xinhua) reported.   If any type of stablecoin is to become a widely used payment instrument in the future, these currencies must be subject to strict control such as financial institutions such as banks or semi-banks, Lee said in a video speech.   I added that measures must be taken so as not to cause speculation on asset encrypted significant financial risk, indicating that these assets are investment options, and not a currency per se. Investment tools Li explained that if crypto assets were to play a role, they would be used as investment instruments or alternative investments, as many countries, including China, are studying their regulatory environment. "Stablecoins" refers to digital currency initiatives supported by large technology or financial companies and built on blockchain technology.   Zhou Xiaochuan, a former governor of the people's Bank of China, said Sunday that when developing digital currencies, the monetary sovereignty of central banks must be respected, and there should not be a single currency scenario for everyone.   Each state had its own macro-governance and monetary sovereignty; however, some states still had certain control over foreign exchange, which was not easy to mitigate.   He added that using the central bank's digital currencies of different countries for cross-border payments would be complicated because it includes different rules and regulations.   Zhou stated that by developing the digital yuan, China aims to upgrade the retail system first, rather than using it for cross-border transactions.     #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article

[24buzzfeed]

China.. Central bank examines digital yuan experience at Beijing 2022 Olympics

China.. Central bank examines digital yuan experience at Beijing 2022 Olympics

A central bank official said Beijing is considering the experience of using a Chinese digital currency during next year’s Beijing Winter Olympics.   Li Bo, deputy governor of China’s central bank, warned that China is not aiming to replace the digital yuan with the dollar and reduce its global dominance. He added that there is no timetable for the nationwide rollout of the digital yuan.   The…

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#digital yuan #yuan

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Accumulated during the pandemic.. The historic oil glut is almost over.

The unprecedented oil glut seen in the markets during the coronavirus pandemic is almost over, but the price recovery that saves producers is upsetting consumers.   According to the IEA, barely a fifth of the surplus that flowed to storage facilities in advanced economies when oil demand collapsed last year remained until February, and since then, the remaining volumes have dwindled amid declining supply. In a report published by Bloomberg, authors Grant Smith and Julia Lee said that oil supply and demand are in equilibrium at a time when OPEC and its allies are still pursuing a policy of curbing production, with global fuel demand recovering, and as a result, international crude oil prices have reached close to دولارا 67 a barrel, a boon for producers but a growing concern   Ed Morse, head of commodities research at Citigroup, said that trade oil inventories across the OECD have returned to a 5-year average, and the remainder of the surplus is almost entirely concentrated in China, which is building up a permanent Petroleum Reserve.   The authors explained that the accumulated oil volumes have not completely run out, and a large surplus appears to still exist off the coast of China's Shandong province, which may have accumulated to feed the new refineries, according to IHS Markit Consulting Co., Ltd.   Getting rid of what is left of the global surplus may take some time, as the OPEC plus alliance is working to revive some stalled supplies, meanwhile an outbreak of new strains of coronavirus in India and Brazil could threaten to dampen demand, however, the end of the glut seems imminent.   According to IEA estimates, oil stocks in advanced economies were 57 million barrels above average between 2015 and 2019 as of February, compared with 249 million recorded in July.   These data reflect a marked shift from a year ago, when the closures caused global fuel demand to decline by 20% and Gunvor Group Ltd.warned of running out of oil storage space. Falling stocks The United States has practically exhausted the accumulated inventory, total crude oil inventories fell in late February to 1.28 billion barrels, a level recorded before the spread of the coronavirus, and still close to these figures, according to the Energy Information Administration. Last week, fell stocks on the east coast to their lowest levels since at least 30 years. "We are beginning to see a recovery in refinery operations in the U.S., which will be helpful in reducing potential crude inventories," said Mercedes McKay, senior analyst at FGE consulting.   There has also been a decline in the country's Strategic Petroleum Reserve, salt caverns used to store oil for emergency use, Trump has allowed traders and oil companies to temporarily hold surplus supply, and in recent months they have removed about 21 million barrels from the site, according to people familiar with the matter.   Tankers were converted to temporary floating depots when onshore storage facilities filled up last year, but this amount is declining according to IHS Markit Ltd.the surplus has fallen by 27% the past two weeks to 50.7 million barrels, the lowest level in a year, according to the company's analysts Yan Ling and Photios catsoulas.   Another important indicator is the depletion of crude storage tanks at the Saldanha Bay Centre, which is logistically important on the west coast of South Africa. It is a popular site for traders that allows them the flexibility to quickly send shipments to different markets, and inventories at the terminal are expected to drop to 24.5 million barrels, the lowest level in a year, according to ship data tracked by Bloomberg.   For the 23-nation OPEC plus alliance led by Saudi Arabia and Russia, the decline in inventories is testament to the success of the bold strategy they adopted a year ago: the alliance cut production by 10 million barrels per day in April, roughly 10 percent of global supply, and is gradually returning to production compensation.   The organization of Petroleum Exporting Countries has stated that its main goal is to return bloated stocks to pre-pandemic levels, but it is unclear whether the organization will allow a return to normal production once this goal is achieved. In the past, high prices have encouraged the group to continue to pursue a policy of limited production even after reaching the target.   Blessing and curse For consumer states, getting rid of inventory is not a boon, and data from the American Automobile Association has shown that drivers in California are worried about paying nearly 4 for a gallon of gasoline. India, a major oil importer, has complained of financial problems that could result from a return to higher prices.   In various circumstances, the balancing of supply and demand should continue, and as demand increases further, global inventories will fall by 2.2 million barrels per day in the second half of the year, pushing Brent to 74 a barrel or even higher, Citigroup forecasts.         #news #covid #india #instagram #love #coronavirus #follow #like #media #music #breakingnews #instagood #fashion #viral #trending #politics #noticias #memes #new #corona #usa #football #bhfyp #sports #tv #indonesia #berita #photography #currentaffairs #bhfyp Read the full article