EMerging Equity
Oil prices
Focused On The Wrong End Of Oil
By Jeffrey P. Snider The front end of the oil price complex continues to get all the attention because it seems to further the more optimistic narrative. It is the back end, however, that is most significant. The nearer maturities of the futures curve reflect more the funding environment than the fundamental view of oil and … Continue reading
Russia Benefits From Crude Production Freeze Talks Despite Failure To Reach Deal
Rising oil prices ahead of the production freeze talks in Doha added $3.7 billion to the value of Russian output, according to Bloomberg based on data from the International Energy Agency. Saudi Arabia got a $3.3 billion boost. Even the countries not involved in the talks have benefited from the freeze fuss. The US got … Continue reading
Only One Oil Fundamental Factor
By Jeffrey P. Snider, Alhambra Investment Partners The fundamentals for crude oil continue to be atrocious. Production remains relatively stable if slightly reduced, which is about the only factor in favor of oil prices since the February 11 low. On the other side of the ledger, you don’t hear as much about how it’s all oil … Continue reading
Saudi Petrochemicals Giant Sees Oil At $60 By Year End
Oil prices may reach stability after the nosedive that has erased two-thirds of their value and pushed them to the lowest level in more than 10 years, according to one of the world’s largest petrochemicals manufacturers, SABIC. “Of course, prices are not really at levels where we wish (them to be) but that’s normal in … Continue reading
It’s Not A Joke Anymore, Oil Price Levels At $10 Per Barrel Quite Realistic Analysts Warn!
“The failure of oil producing countries to strike a deal on capping crude production may keep oil prices low through 2017 and beyond, Russian Energy Minister Aleksandr Novak said on Thursday,” RT reports. If the countries don’t agree [on decreasing production – Ed.] competition and production increases will continue, and prices may stay low in … Continue reading
Russian Economy Contracts Most Since 2009 As Oil Prices Continue To Plunge
“Russia’s economy, facing renewed pressure from plunges in energy prices and the ruble, contracted the most since 2009 last year on oil’s decline and sanctions over the conflict in Ukraine that curbed access to international financing,” Bloomberg reports. According to preliminary estimates, gross domestic product fell 3.7% after growth of 0.6% in 2014. Vladimir Miklashevsky, … Continue reading
Sovereign Wealth Funds In The New Era Of Oil
By Rabah Arezki, Adnan Mazarei, and Ananthakrishnan Prasad As a result of the oil price plunge, the major oil-exporting countries are facing budget deficits for the first time in years. The growth in the assets of their sovereign wealth funds, which were rising at a rapid rate until recently, is now slowing; some have started … Continue reading
WTI Crude Falls Below $40 First Time Since 2009: Some Analysts See The Bottom As Low As $10
“American benchmark WTI crude briefly slipped below $40 per barrel for the first time since 2009, showing an eighth straight weekly decline , the longest streak in almost 30 years,” RT reports. According to the news agency: During the intraday trading in New York, the benchmark WTI crude price dropped as low as $39.86 per … Continue reading
Mohamed El-Erian: Oil’s New Normal
By Mohamed A. El-Erian Oil prices have been heading south again, with a barrel of US crude recently falling below $42 – the lowest level since March 2009, the nadir of the global financial crisis. And, while last year’s sharp price drop was heavily influenced by two large supply shocks, the current decline also has an … Continue reading
Russia Feeling The Pinch of Cheaper Oil, Sanctions
Russia is now likely in recession with GDP growth expected to decline 3.4 percent this year, says the IMF in its annual economic assessment. Mission Chief Ernesto Ramirez Rigo, explains how Russia’s economic woes are largely due to the dramatic drop in oil prices, and sanctions in response to developments in Crimea and Ukraine. Ernesto … Continue reading
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