On the heels of last night's big crude build, OPEC's overnight report stating that supply cuts won’t re-balance the market until the second half of 2017 has sparked further losses in oil prices, almost erasing the entire OPEC/NOPEC/Saudi cut ramp.
How can this be happening? We were supposed to be doomed! If this surfeit of good news on the climate continues, it will threaten to derail a major gravy train. In short, the big pause is continuing...
Accusations and allegations that the Turkish government - and, specifically, members of Erdogan's family- has an active role in the oil smuggling from areas that are controlled by the “Islamic State”, were some of the most important subjects that were breached but never confirmed in 2015. Today, the leaking of all the emails from the Turkish energy minister by Wikileaks confirms these allegations.
After being forced to withdraw $15 billion to fund government deficits, Norway's sovereign wealth fund has decided to boost it's equity allocation to 75% from 60% creating about $130 billion worth of incremental global equity demand
Fifteen European states have supported Germany’s initiative to launch discussions with Russia on a new arms control agreement. Europe is facing a host of security challenges. Launching a meaningful discussion with Russia is logical step to take.
After contributing $88mm to the Clinton Foundation over the past 10 years, making them one of the Foundation's largest contributors, Australia has decided to pull all future donations. But why would they stop funding now that Hillary has so much more free time to focus on her charity work?
Regardless of your personal views on these people, they are some of the most powerful and connected financial insiders in the world. The fact that they are openly calling for a cash ban tells us that a campaign in the US is already underway.
If the Clinton Foundation isn't just a massive, corrupt, "pay-for-play" organization, then perhaps the Clintons can explain why Norway, one of their largest foreign contributors just behind Saudi Arabia, has decided to slash their donations by 87% just after Hillary's stunning loss.
With OPEC’s 2016 World Oil Outlook now grimly forecasting that peak oil demand could become a reality in just over a decade, and natural gas and renewables chomping at the bit to cannibalize commodity market growth, it may be good for the environment, but the trade-off will be global instability on a catastrophic level.
Oil majors in northwest Europe have booked tankers to store 9 million barrels of oil as the international supply glut grows in size, according to a ship-operator who spoke to Bloomberg. The companies have resorted to using tankers as storage as signs emerge that onshore storage is filling up on the land-starved continent.