EMerging Equity
OPEC
Commodity Prices Expected To Remain Weak In 2015 Despite Slight Rebound In Oil Price
The World Bank is nudging up its 2015 forecast for crude oil prices from $53 in April to $57 per barrel after oil prices rose 17 percent in the Apr-Jun quarter, according to the Bank’s latest Commodity Markets Outlook, a quarterly update on the state of the international commodity markets. The Bank reports that energy … Continue reading
Will Sisi Succeed In Tackling Egypt’s Subsidies?
By David Wille To make Egypt a more attractive home for investment, President Sisi made tackling unsustainable food and energy subsidies a top priority. A year later, it is still unclear whether Sisi’s government can follow through on reforms that have stymied leaders for decades. As Egypt’s leaders struggle to bring the country’s finances under … Continue reading
UAE Hikes Gas Prices By 24% As It Halts Subsidies Amid Oil Bear Market
The United Arab Emirates (UAE), the second-largest Arab economy and OPEC’s third largest oil producer, will hike unleaded gasoline prices by 24 percent in August as it becomes the first country in the oil-rich Persian Gulf to remove subsidies, the UAE’s official WAM news agency reported on Tuesday. Drivers in the UAE will now pay 2.14 dirhams per liter … Continue reading
Persia’s Approaching Gold Rush
By Pepe Escobar You may have heard of the N-11. Yes, it’s another clever Goldman Sachs concoction, to the benefit of that prized specimen – the “global investor”. These are the next BRICS, the new emerging powers. The N-11 is made up of: Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey and Vietnam. Some … Continue reading
How Will Low Oil Prices Affect Global Growth?
By Marc Stocker The impact of falling oil prices is becoming increasingly visible, but the global economy is yet to hit a nice stride – oil exporters face severe headwinds, oil-importing China continues to slow, other large oil-importing countries have seen mixed developments since the start of 2015, and financial market volatility has increased. Are … Continue reading
Instead Of Killing Fracking, OPEC Engineers Its Own Demise
By Patrick L. Young A market flooding production strategy many saw as intending to kill the US-centric shale revolution, has, if anything, only made it stronger. In essence the OPEC cartel is signing its own death warrant. As always the communique suggests harmony and continuity but behind the scenes this was apparently a more fraught OPEC … Continue reading
Outflow From The Largest US Oil ETF Reached $1 Billion In April-May
The biggest U.S. exchange-traded fund (ETF) that tracks oil, the United States Oil Fund, known as USO, is heading for the largest two-month outflow in six years. Investors are worried that it could be the end of crude’s 30 percent rally. Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, … Continue reading
MENA Oil Exporters Need Swift Adjustment To Lower Prices, IMF Says
The Middle East and North Africa (MENA) region is experiencing a modest economic recovery, despite the sharp drop in oil prices and deepening conflicts, the IMF says in its latest regional assessment. The Regional Economic Outlook Update, released on May 5, projects that growth will increase slightly to about 3 percent in 2015 (see table). … Continue reading
Petro Market Manipulation: OPEC Vs. Fracking
By Karl Grossman Manipulation of the petroleum market is not new. John D. Rockefeller with his Standard Oil Trust mastered it between the end of the 19th and start of the 20th Century. Rockefeller and his trust succeeded in controlling virtually all the oil industry in the United States and also dominating the international market. The … Continue reading
Venezuela Urges OPEC Oil Blending To Increase Competitiveness
Venezuela has proposed that it blend its heavy crude with light oil from other OPEC countries to create a consistent new grade that could compete against increasing U.S. and Canadian supplies. The idea was discussed at the Summit of the Americas in Panama earlier this month and at a meeting with OPEC ambassadors in Caracas last week, according to Eulogio del Pino, head of the Venezuelan state oil … Continue reading
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