Market Share

How Russia Outsmarted OPEC

Russia, along with Iran, could turn into the big winner of the agreement, enjoying high output and higher prices, which would allow it to further expand its global market share. Unless, of course, OPEC lies, as former Saudi Oil Minister Ali al-Naimi plainly said this week. “Unfortunately,” he said, “we tend to cheat,” commenting on how OPEC handles its only tool of market rebalancing: production cuts.

Deutsche Bank CEO Warns Employees "Europe Is Endangered" After Italy Vote

"The environment remains uncertain with a number of potentially frosty developments. The result of the constitutional referendum in Italy is a harbinger of renewed turbulence that could spill over from the political arena to the economy – with Europe particularly endangered."

How Inflation Ruined A Chocolate Bar

"Wouldn’t it be great if Toblerone turned this incident into a teaching moment for its devoted customers? If it used its social media channels to remind them of the virtues of hard money and the costs of fiat money? If it helped Toblerone aficionados see the relationship between gaps in their candy to mainstream monetary fads that help bring them about?"

OPEC Negotiations: Here Is The Latest

With the last day of OPEC pre-negotiations almost over, the latest from Vienna is that Iran and Iraq appear to have softened their positions ahead of a crucial OPEC meeting on Wednesday, however as the WSJ reports, "it may not be enough to satisfy Saudi Arabia’s demands for a broad-based oil-production cut." Here are the latest hurdles to reach a deal.

OPEC "Optimism" Sparks Sudden Oil Spike

Following news over the weekend of cancelled meetings, Saudi dropping out, and disagreement over who will bear the brunt of any cuts, oil prices had faded notably (testing towards a $44 handle). But then, someone unleashed the algo-friendly 'O' word and prices spiked... Iraq’s Oil Minister Jabbar al-Luaibi is optimistic a deal will be reached - sending WTI up close to $47 and into the green from Friday's close.

OPEC Scrambles To Salvage Oil Deal In 11th Hour As Tensions Spike

One day after Saudi Arabia raised the prospect that Wednesday's OPEC summit in Vienna may conclude without a deal (which also was spun as optimistic as the market would still revert to "equilibrium", however it was unclear at what price), OPEC members tried on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia.

In Last Minute Twist OPEC Demands Big Production Cuts From Non-OPEC Members; Russia Balks

Under pressure from OPEC to make significant output cuts, Russia balked saying it was ready to freeze oil production at current levels, which it aruged is the equivalent of a cut: "According to our plans, (Russia's) oil output is going up next year. If we keep production at the current level we are making our contribution, for us that essentially means a cut of 200,000-300,000 barrels per day (in 2017)" energy minister Novak said.