Oil Prices Start The Week Lower Amid Uncertainty Over Trump’s Policies

by THEFUTURE.TEAM

January 20, 2025

Oil prices have opened the week on a downward note, as the market shifts focus to the incoming US President, Donald Trump. One of his first anticipated actions in office is the potential easing of sanctions imposed on Russia by his predecessor, Joe Biden.

Key Market Developments

Brent crude futures dropped by 0.28%, trading at $80.56 per barrel.
US light crude remained relatively steady, losing just 2 cents in the previous session, now sitting at $77.88 per barrel.
Despite the drop, both benchmarks posted a 1% increase last Friday, marking a fourth consecutive week of gains. This followed sanctions targeting Russian oil giants Gazprom Neft and Surgutneftegaz, actions that disrupted the Russian oil industry, potentially cutting supplies by 700,000 barrels per day.

These sanctions have sent Moscow’s major customers, notably China and India, on the hunt for alternative oil sources, driving up delivery prices significantly.

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The Focus Shifts To Trump’s Inauguration

The market’s attention is now squarely on Trump’s inauguration, with speculation about what immediate decisions he may make. Analysts expect Trump to announce moves designed to stimulate the economy, such as lifting the moratorium on licenses for US liquefied natural gas (LNG) exports, a step aimed at bolstering US energy exports and market influence.

Market Outlook: Uncertainty Looms

While recent sanctions on Russia have put pressure on global oil supplies, particularly impacting the flow of nearly 1 million barrels per day, analysts from ANZ suggest that the recent price hikes may be temporary. Trump’s pledges to swiftly end the Russia-Ukraine conflict could lead to the easing of some sanctions, potentially stabilizing the oil market and softening prices shortly. The direction Trump takes on this issue will be crucial in determining the future of both global energy supplies and oil prices.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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