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  • Editor’s Picks / Yesterday at 1:22 GMT

    South Korea agrees on projects worth billions for post-sanctions Iran

    Nikkei Asian Review
    South Korea and Iran are set to pursue joint projects involving energy, railways and other infrastructure totalling $37.1bn as part of economic cooperation agreed on between the countries' presidents. “Seoul will re-establish investments and expand bilateral trade to help Iran quickly rebuild its economy and achieve growth,” said President Park Geun-hye following a summit with her counterpart in Tehran. The countries look to bolster their economic activities following the lifting of sanctions on Iran. Park is the first South Korean president to visit Iran since 1962. China's Xi Jinping has already visited Iran, and Japan's Shinzo Abe is mulling a trip this year. South Korea hopes to capture the country's demand for infrastructure first to get a leg up on Japan.
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  • Editor’s Picks / 26 April 2016 at 2:03 GMT

    Saudi prince unveils sweeping plans to end 'addiction' to oil

    Reuters
    The young prince overseeing Saudi Arabia's economy unveiled ambitious plans on Monday aimed at ending the kingdom's "addiction" to oil and transforming it into a global investment power. Deputy Crown Prince Mohammed bin Salman said the world's top oil exporter expects state oil company Saudi Aramco to be valued at more than $2 trillion ahead of the sale of less than 5% of it through an IPO. He said the kingdom would raise the capital of its public investment fund to 7 tn riyals ($2 tn) from 600 bn riyals ($160 bn). The plans also included changes that would alter the social structure of the ultra-conservative Muslim kingdom by pushing for women to have a bigger economic role and by offering improved status to resident expatriates.
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  • Editor’s Picks / 21 April 2016 at 10:58 GMT

    The $2 trillion plan to wean Saudi Arabia off oil

    Bloomberg
    Saudi Arabia may be the world's archetypical oil state and the de facto head of Opec, but Riyadh is looking to diversify in light of the price collapse seen since mid-2014. According to Saudi prince Mohammed bin Salman, the oil-rich monarchy needs to "make investments the source of Saudi government revenue, not oil". In service to this goal, the de facto leader of the House of Saud is planning the creation of the world's largest sovereign wealth fund, which will eventually hold more than $2 trillion in assets – "enough to buy all of Apple, Google, Microsoft, and Berkshire Hathaway", according to Bloomberg. The prince is also planning to sell off a portion the state-owned Saudi Aramco oil concern as part of a grand-scaled programme whose intention is to generate $100 billion/year in additional, non-oil revenue by 2020.
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  • Editor’s Picks / 21 April 2016 at 5:58 GMT

    Saudis losing market share to rival oil producers

    Nikkei Asian Review
    Saudi Arabia, the world's biggest crude exporter, is slowly but surely shrinking in global markets. The setback is due to competition from Russia and other producers. At a summit of leading oil-producing nations on Sunday, Saudi Arabia refused to freeze output. Iran, which did not attend, wants to increase its production now that sanctions have been lifted. Competition for market share is fierce, casting a shadow over price trends. Saudi Arabia lost ground to other key oil producers in nine out of 15 major markets from 2013 to 2015, according to FGE, an international energy consultancy. Saudi Arabia took the hardest hit in China, losing 4 percentage points of market share between 2013 and 2015.
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  • 21 April
    Arsh Arsh
    WTI - Oil - June 2016
    21 April - Sell @ 44.2 - TP1 42.8 - TP2 42.1
  • 21 April
    John Roberti John Roberti
    a 29.000 barrels per day decrease a
    21 April
    John Roberti John Roberti
    a 29.000 barrels per day decrease in production as indicated by EIA should not generate a 3,50 dollar increase in oil price in a completely glut marketj...
    21 April
    Ole Hansen Ole Hansen
    HI John. It does when momentum takes over. The whole commodity complex has seen strong buying from financial traders this week. Fundamentals have moved to the backseat...
  • Article / 19 April 2016 at 13:00 GMT

    The unspoken conflict

    Head of Trading / The ECU Group plc
    United Kingdom
    The unspoken conflict
    Heightened oil price volatility along with surprisingly strong correlation between oil and currencies of non-oil-producing countries and the tacit desire of global central banks for weaker currencies have led to a very volatile, complex and confused FX market. Equities have ridden the relief rally in oil to reach new highs, posing a major risk.
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  • 19 April
    tcat tcat
    that move was very strong on the up side
    19 April
    Philidor Philidor
    After a series of unfortunate and increasingly stubborn mistakes, it's time to throw everything on my desk into the bin and look elsewhere. Because, crudely put, I...
    19 April
    Philidor Philidor
    I'm guessing these same people who are buying now, would have sold if they had cut production at Doha? lol