Putin is playing bad cards well in Syria and Ukraine – but his days are numbered February 22, 2016 Given the hustle and bustle of modern life, a primary problem for political risk analysts is that they have far too much information rather than too little. I could literally spend the whole day reading other people’s articles, and never make a dent in a day’s worth of foreign policy analysis around the world. Given [...]
Oil producers hope for a deal on production limits by early March February 21, 2016 A deal to cap oil production at January levels should be completed by 1 March, according to the Russian energy minister Alexander Novak. The deal, brokered by de facto Opec leader Saudi Arabia, has the backing of Russia, Qatar and Venezuela. Opec rebel Iran has welcomed the deal but has said it will continue to [...]
Sepp Blatter: You cannot buy a World Cup and I have committed nothing criminal, says former Fifa boss February 20, 2016 Disgraced former Fifa president Sepp Blatter has insisted "you cannot buy a World Cup" and claimed the controversial vote to award the 2018 and 2022 tournaments to Russia and Qatar was not fixed. Fifa will elect its new president on Friday after Blatter, along with former Uefa president Michel Platini, was banned from football for [...]
Oil prices: Is the age of oil coming to a close? Some say Saudi Arabia’s pumping out black gold because it knows its days are numbered February 18, 2016 It's the conspiracy theories around why Saudi Arabia is keeping oil prices low that make the saga so intriguing. Data shows the Saudis have raised their monthly production levels throughout this spell of cheap oil. The desert kingdom has been blessed with abundant, easy to access reserves of black gold, which are believed to cost around [...]
Oil production freeze: Saudi will not cut output as US stockpiles soar February 18, 2016 The oil price has has fallen off a cliff on a double whammy of bad news: De facto Opec leader Saudi Arabia has said it will not cut production according to reports, while the US Energy Information Administration has announced inventories of crude swelled in the week to 12 February. The price per barrel of US [...]
Ukraine vows to “vigorously” defend itself after Russia takes it to London court over unpaid €3bn bond February 18, 2016 Ukraine has vowed to vigorously defend its interests as it gears up for a London legal battle with Russia over unpaid debt. Ukraine failed to repay a €3bn (£2.3bn) loan in December. The country argues it cannot repay the loan as it would favour Russia over other investors – Russia did not take part in a [...]
Oil price rises again as Brent crude climbs – but Tullow Oil share price is hit February 18, 2016 Oil prices climbed again in early trading today, after Iran "welcomed" (but made no commitments to) a deal between Russia and Saudi Arabia to keep a lid on production. Brent crude climbed to $34.44 per barrel today, while WTI crude, the US benchmark, rose to $31.14. That puts Brent crude just shy of 25 per [...]
As institutions from the EU to Opec face becoming irrelevant, could central banks be the next to encounter crisis? February 18, 2016 From the EU to Opec, institutions that have dominated the world since the Second World War are slowly becoming irrelevant. Oil producing countries would once gather in Vienna and with shameless self-interest, manage production levels under the altruistic cloak of preventing prices from tumbling or spiking. No longer. Riven by internal differences and rendered impotent by [...]
Oil prices: UK oil baron Algy Cluff warns chancellor George Osborne that the North Sea industry is on the brink of destruction February 17, 2016 One of Britain’s best known oil tycoons has warned that low prices could destroy the UK oil industry if the government fails to slash taxes and encourage exploration in the sector. Speaking exclusively to City A.M., Algy Cluff, who pioneered exploration in the North Sea in the 1970s, has added his voice to a growing [...]
Venezuela, “world’s worst performing economy”, appoints second finance minister in a month February 17, 2016 Nothing says stability like burning through two finance ministers in a month. And so it is of course hugely surprising that Venezuela – the country whose economy is in its worst state since 1940 and which recently topped a global misery index for the third year in a row – has done exactly that. President Nicolás Maduro – the [...]