Oil Prices Surge Amid Syrian Turmoil

by THEFUTURE.TEAM

December 9, 2024

Oil prices kicked off the week on an upward trajectory after rebels ousted the 43-year rule of President Bashar al-Assad and his father, Hafez al-Assad. The prospect of civil war has fueled concerns over heightened tensions in the Middle East, raising the risk of supply chain disruptions.

Key Figures

Brent crude rose 0.52% to $71.49 per barrel.
US light crude climbed 0.58% to $67.59 per barrel.

These movements followed the seizure of Damascus by Hayat Tahrir al-Sham, a radical rebel group, on Sunday. This marked the end of 50 years of Assad family rule, raising fears of a possible escalation into civil war.

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The oil market’s upward trend comes after two consecutive weeks of losses for both Brent and US light crude, driven by growing expectations of oversupply in 2025.

Market Constraints

Despite the rise in prices, broader market sentiment remains weighed down by weak demand in China, the world’s second-largest economy. This prompted Saudi Aramco, the world’s top crude exporter, to slash its January 2025 prices for the Asian market to the lowest level since early 2021.

OPEC+ Strategy Shift

In a move that surprised markets, OPEC+ postponed its planned production increase for January by an entire year, rather than the previously expected three months. OPEC+ controls about 50% of global oil production, and the group had initially planned to ramp up production from October 2024. However, slowing demand, especially from China, along with rising output from other producers, forced multiple delays to the increase.

With the global energy market still under pressure from weak demand, the cartel’s decision signals a shift toward a more cautious production strategy to maintain price stability.

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Only 63.9% Of Young Cypriots Have Basic Digital Skills, Eurostat Finds

by THEFUTURE.TEAM

July 15, 2026

Cyprus continues to lag behind the European Union average in digital skills among young people, even as the bloc records steady progress in digital literacy. New Eurostat data released on Wednesday also show that Cyprus has the widest gender gap in the EU, with young women significantly outperforming young men.

Cyprus Falls Short Of The EU Benchmark

According to Eurostat, 63.9% of Cypriots aged 16 to 24 had at least basic digital skills in 2025, well below the EU average of 74.6%.

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Across the bloc, nearly three-quarters of young people have reached at least a basic level of digital competence, reflecting the growing importance of digital skills in education, employment and everyday life.

Nordic And Central European Leaders Set The Pace

Denmark recorded the highest share of digitally skilled young people, at 92.1%, followed by the Czech Republic with 91.7% and Malta with 91.5%.

At the other end of the ranking, Bulgaria and Romania were the only member states where fewer than 60% of young people had achieved at least basic digital skills, at 52.8% and 53.3%, respectively.

Women Outperform Men Across Most Of The Bloc

Eurostat’s figures also highlight a persistent gender gap across much of the EU. At the bloc level, 75.9% of women aged 16 to 24 possessed at least basic digital skills, compared with 73.3% of men. The same pattern was recorded in 22 member states, including Cyprus.

No country recorded a wider gender gap than Cyprus. Some 73.9% of young women had at least basic digital skills, compared with 55.1% of young men, a difference of 18.8 percentage points.

A Wide Gap With Policy Implications

The disparity is significant because digital skills have become increasingly important for access to education, employment opportunities and participation in a technology-driven economy.

For policymakers, the figures underline two challenges: raising overall digital proficiency while narrowing the gap between young women and young men. Slovenia recorded the second-largest gap in favour of women, at 11.6 percentage points, followed by Austria with 9.1 points.

By contrast, young men outperformed women in only five EU countries. The widest gaps in favour of men were recorded in Malta, where 93.6% of young men had at least basic digital skills compared with 89.1% of young women, and Romania, where the figures stood at 55.1% and 51.1%, respectively.

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