Institutional Investor (March 24)
“A reversal for the dollar and oil have not yet quenched investors’ appetite for euro-denominated risk assets.” In the absence of a market-shaping event, “investors keep flocking to Europe.”
Tags: Dollar, Euro-denominated, Europe, Investors, Oil, Reversal, Risk assets
Wall Street Journal (January 30)
“Trouble has been looming over the oil patch since crude prices began falling last summer, from over $100 a barrel to under $50 today. But only now are the long-feared effects of a bust starting to ripple through the complex energy ecosystem, affecting Houston executives, California landowners and oil old-timers in Oklahoma.”
Tags: Barrel, Bust, California, Crude prices, Energy ecosystem, Falling, Houston, Oil, Oklahoma, Trouble
The Economist (January 23)
The death of King Abdullah “could hardly have come at a more challenging time for Saudi Arabia.” His successor “King Salman has inherited a realm that is the world’s top oil exporter at a time when prices have plunged; is home to Islam’s holiest sites of Mecca and Medina at a time when jihadist violence is at a peak; and has been dragged into turmoil in the region.”
Tags: Islam, Jihadist, King Abdullah, King Salman, Mecca, Medina, Oil, Prices, Saudi Arabia, Successor, Turmoil, Violence
The Economist (January 17)
“The fall in the price of oil and gas provides a once-in-a-generation opportunity to fix bad energy policies.”Governments around the world should “seize” this chance.
Tags: Energy, Gas, Governments, Oil, Opportunity, Policies, Price
Institutional Investor (January 6)
Amid “slowing global growth concerns and plummeting oil,” Russia has become a “cornered bear.” Food shortages and other anecdotal evidence suggest the domestic economy is crumbling and “that the pain is far from over.” Putin’s chances of finding “a solution that can provide economic relief while allowing him to save face” are looking “increasingly slim.”
Tags: Economy, Food shortages, Global growth, Oil, Pain, Putin, Relief, Russia
Institutional Investor (December 31)
“The major market narrative remains oil.” 2014 brought the largest annual price decline since 2008. Investors are “focusing on what the impact of cheap oil will be on global fundamentals in the coming quarters.”
Bloomberg (October 15)
Vladimir Putin is losing “his best friend: expensive oil.” Petro revenue makes up 70% of Russia’s export revenue and “oil has been the key to Putin’s grip on power since he took over from Boris Yeltsin in 2000, fueling a booming economy that grew 7 percent on average from 2000 to 2008.” To balance its budget, Russia needs a per barrel price of over $100. “At $90, close to the current level, Russia will have a shortfall of 1.2 percent of gross domestic product.”
Forbes (June 16)
Putin’s oil deal with China should hardly rate a footnote. It amounts to “an annual average of $13 billion.” And rather than being a groundbreaking strategic alliance, “the deal with China underscores Russia’s core weakness. Despite its immense resources and highly educated population… Russia has a shockingly small economy that is amazingly dependent on the export of oil, gas and a few other natural resources.”
Tags: China, Deal, Dependent, Economy, Export, Gas, Natural resources, Oil, Putin, Resources, Strategic alliance, Weakness
NBC News (April 26)
“The wheels of commerce along Rodeo Drive are no longer greased by oil money (“black gold, Texas tea”) or by much American money at all.” Sales to international travelers now “fuel” the economy and “Chinese alone account for 60 percent of sales on Rodeo Drive.”
Tags: Chinese, Commerce, Economy, International travelers, Money, Oil, Rodeo Drive
Euromoney (February Issue)
In Mexico, “cheaper electricity will lower manufacturing costs across the board, and the country could become a competitor in energy-intensive industries such as aluminum and steel production.” President Enrique Peña Nieto introduced sweeping reforms to liberalize the electricity and oil and gas sectors, prompting analysts to add “an extra 1.5% to future GDP growth rates as a direct consequence of the scope of these reforms and many say the risks are on the upside. Suppliers, contractors and a whole host of other industries will benefit.”
Tags: Aluminum, Analysts, Competitor, Contractors, Costs, Electricity, Enrique Peña Nieto, Gas, GDP, Manufacturing, Mexico, Oil, Reforms, Risks, Steel, Suppliers, Upside
