EMerging Equity
Shale
Saudi Arabia Is Running Out of Money Faster Than Anyone Expected
Saudi Arabia may have a budget deficit of 19.5% of GDP this year unless it rapidly changes course and accommodates the new, cheap oil world, according to the IMF. Alas, the Kingdom has almost zero short term incentive to do so. A generous social contract rapidly fraying Saudi Arabia’s Kingdom is topped by the wealthy Saud … Continue reading
Low Oil Prices Fueling Political And Economic Instability In Oil Exporting Countries
By Ante Batovic A year after the beginning of the biggest oil price slump in a decade, it is worthwhile to assess the current state of affairs and estimate the costs both for the global economy and the political stability of oil exporting countries. The oil industry was caught unprepared by the sudden slump in oil … 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
For First Time Since 2005, Russia Overtakes Saudi Arabia To Become China’s Top Crude Dealer
Russia has overtaken Saudi Arabia to now become China’s top crude dealer for the first time since October 2005 as the tussle for market share in the world’s second-largest oil consumer has intensified, Bloomberg reports. In May, China imported a record 3.92 million metric tons of crude oil from Russia, which accounts for 927,000 barrels per day or a … 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 Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, … Continue reading
China Eclipses U.S. To Become World’s Largest Importer Of Crude Oil
China has overtaken the U.S. as the world’s largest importer of crude oil for the first time, according to a report from the Financial Times (FT) on Sunday. Highlighting a seismic shift in global energy flows over the past decade, China has eclipsed the U.S. in April and has became the top global crude importer. According to the FT, Chinese … 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
The Real Story On Iran, U.S., Russia, And China – OpEd
By Pepe Escobar, Sputnik News The real story is, and will continue to be, how Iran, the key power in Southwest Asia, is about to be positioned in the nonstop complex ballet between the US, Russia and China. That’s one of the key vectors of the New Great Game in Eurasia. The real story was never … Continue reading
Oil Plunge To $20 Could Be On The Horizon, Citigroup Warns
A recent surge in the price of oil is simply a “head-fake,” and oil as cheap as $20 a barrel could be around the corner in 2015, according to report from Citigroup that was released on Monday. In Citigroup’s report, Edward Morse – the firm’s global head of commodity research – said that Brazil and Russia are … Continue reading
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