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Tag Archives: Organization of Petroleum-Exporting Countries

Shell’s New Permian Play Profitable At $20 A Barrel

Authored by Rakesh Upadhyay via OilPrice.com, OPEC’s worries about the booming U.S. oil production have increased significantly with the big three oil companies’ interest in shale. Exxon Mobil Corp., Royal Dutch Shell Plc, and Chevron Corp., are planning $10 billion of investments in shale in 2017, a quantum jump compared to previous years. All the naysayers who doubted the longevity of the shale oil industry may have to modify their forecasts. OPEC lost when they pumped at will as lower oil...

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Global Stocks, US Futures Rebound Ahead Of Critical Obamacare Repeal Vote, Yellen Speech

European and Asian stocks were modestly in the green, with U.S. futures higher, before a critical procedural vote on a Republican health-care bill to repeal Obamacare, while Janet Yellen is set to speak in Washington at 8:45am. S&P 500 Index futures were 3 points in the green as of 6:45am ET as European shares edged higher, underpinned by the first gains for miners and health care stocks all week. Bonds of periphery countries gained before the European Central Bank’s last dose of free...

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Global Stocks, US Futures Slide Spooked By G20 Protectionist Shift; Dollar Drops For 4th Day

Global markets start the week mixed with Asian stocks rising (Japan was closed for holiday), European stocks sliding, weighed down by declines in oil-and-gas shares and banks, and S&P500 futures also down. The dollar fell to a six-week low, falling four days in a row for the first time since early November as G20 leaders scrap a long-standing commitment to reject all forms of trade protectionism, suggesting the "weak Dollar" camp in Trump's inner circle is winning. Equities retreated in...

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Deutsche Bank: “The Probability Of A Negative Shock Is High”

For the second week in a row, Deutsche Bank's strategist Parag Thatte has a somewhat conflicted message for the bank's clients: on one hand, he writes that positive economic surprises continue "but are getting less so", and although the divergence between hard data surprises and sentiment is diminishing the bank is somewhat confident that a "pullback in the very near term is unlikely" (here DB disagrees with Goldman Sachs). However, Thatte is increasingly hedging, and notes that because a...

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Paul Brodsky: “Stagflation On The Horizon”

Submitted by Paul Brodsky Of Macro Allocation, Inc. Stagflation on the Horizon Logic and current trends suggest that declining output growth accompanied by higher prices will begin hitting economies and facing policy makers in the coming years. Markets should begin sniffing out this stagflationary macroeconomic setup this year. Output We have published data showing global output growth is in decline and have argued this trend will continue. Indeed, a long term graph of US Real GDP growth...

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Fasanara Capital: This Is The Bear Case For Oil

From Francesco Filia of Fasanara Capital Oil: a weak present and no future Oil correction (~10% from peak) is not necessarily the foretell of an imminent debacle. Oil corrected by approx. 20% twice in the past months (June-July 2016 and October-November 2016), without derailing the bull trend. Important supports were breached in both instances, and yet Oil managed to resurrect, powerfully. However, this latest development with Oil offers the opportunity to update views, and record relevant...

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Oil Tumbles Below $48 As JPM Warns Of Possible Commodity Liquidations

Any hopes for an early rebound in oil following last week's torrid plunge in WTI and Brent appear to be dashed, at least at the open, when WTI promptly tumbled below $48/barrel. While there have been no materal adverse catalysts over the weekend, three factors are being mentioned by Sunday night trading desks as drivers behind the latest seloff. First: price momentum has simply persisted from the Friday US selloff, as Asian funds catch up to the US action.  Second, some have pointed to a...

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When Was America’s Peak Wealth?

Submitted by Raul Ilargi Meijer via The Automatic Earth blog, A few days ago, I wrote an essay entitled “Not Nearly Enough Growth To Keep Growing”, in which I posited, among many other things, that “..the Automatic Earth has said for many years that the peak of our wealth was sometime in the 1970’s or even late 1960’s” along with the question “..was America at its richest right before or right after Nixon took the country off the gold standard in 1971?” That same day, I received an email...

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US Shale Production To Soar By 3.5 Million Barrels/Day Over Next Five Years: BofA Explains Why

Two years ago, when Saudi Arabia launched on an unprecedented campaign to crush high-cost oil producers, in the process effectively putting an end to the OPEC cartel (at least until last year's attempt to cut production), it made a bold bet that US shale producers would be swept under when the price of oil tumbled, leading to a tsunami of bankruptcies, as well as investment and production halts. To an extent it succeeded, but where it may have made a glaring error is the core assumption about...

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Trump Left Saudi Arabia Off His Immigration Ban… Here’s Why

Submitted by Nick Giambruno via InternationalMan.com, On August 15, 1971, President Nixon killed the last remnants of the gold standard. It was one of the most significant events in US history—on par with the 1929 stock market crash, JFK’s assassination, or the 9/11 attacks. Yet most people know nothing about it. Here’s what happened… After World War 2, the US had the largest gold reserves in the world, by far. Along with winning the war, this let the US reconstruct the global monetary system...

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