Abu Dhabi

Today's Stunted Oil Prices Could Cause Oil Price Shock In 2020

"What I don’t hear people asking is, ‘then what?’ Are the Saudis going to maintain these production cuts forever, or at some point do they have to start reversing that? I think in 2018 they will be reversing those production cuts..."

OPEC Deal Backfires: Saudis Lose Market Share To Iran, Iraq

Since the start of OPEC’s production cuts, oil market analysts and experts have been focusing on how U.S. shale would respond to the relatively higher and stable oil prices, possibly eating up some of the cartel’s global market share while the cuts last. But the market share war is also going on a micro level within OPEC itself...

Why The Crude Rally Has Fizzled - Part 2

So, why is everyone so bullish? Many oil analysts take as a fait accompli that OPEC-led production cuts thus far are key to balancing the crude market. If this is the case, though, why hasn’t it happened yet?

Frontrunning: April 24

  • French election relief sends Europe soaring (Reuters)
  • Gloves off as Le Pen and Macron pitch for final battle (Reuters)
  • French Runoff Creates Fresh Political Divisions (WSJ)
  • U.S. Government Shutdown May Hinge on Trump’s Demand for Mexico Wall (BBG)
  • Congress returns as Trump pressures Democrats ahead of funding deadline (Reuters)

Oil Stumbles Back To $50 Handle As Saudi/OPEC Jawboning Fails

Oil prices limped higher overnight as desperate jawboning of OPEC production cut deal extensions by the Saudis supported a recovery from yesterday's post-inventories plunge. However, confirming the market's lack of faith in OPEC (and Saudi's ability to hold the deal together), WTI prices are sliding back towards a $50 handle as jawboning half-lives slump.

Dubai Police Arrest Hackers Who Broke Into "Highly Confidential" White House Emails

Dubai police have arrested foreign hackers who targeted five senior White House officials in a blackmail email scam. Maj. Saud al-Khalidi of the Dubai police said that an "African gang" broke into the emails of the five senior officials and "got highly confidential information." The U.S. asked Dubai police for assistance.

Kremlin Says Report Of Fillon's Ties To Putin Is "Fake News"

A French media report alleging that presidential candidate Francois Fillon was paid to arrange introductions to Russian President Vladimir Putin is "fake news," Russia's Kremlin said on Wednesday. "It is what in English we call 'fake news,'" Kremlin spokesman Dmitry Peskov said, when asked to comment on the report.

Not Just The US: UK Bans Use Of Laptops On Flights From 6 Mostly Muslim Countries

One day after the Trump administration imposed a ban for carry-on electronic devices on planes coming to the US from 10 airports in mostly Muslim countries following unspecified terrorism threats, moments ago the UK issued a similar ban, restricting the use of carry on laptops and tablets for inbound flights for flights originating in the following nations: Turkey, Lebanon, Jordan, Egypt, Tunisia, and surprisingly, Saudi Arabia.

Russia, UAE Sign Breakthrough Military Deal

The United Arab Emirates (UAE) has signed an outline agreement to buy Russian aircraft. It also plans to implement a joint project with Russia to develop a next-generation fighter that could enter service in seven or eight years.