Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Sunday, 25 October 05:00 (GMT -05:00)



Stock and commodities markets

OPEC Doesn't Like Russia's Pace of Oil Production Cut


As expected by international experts, the ambitious plan of cutting oil production by OPEC and other oil producers led by Russia are seeing some difficulties during the implementation phase. The OPEC is indicating slower-than-expected oil production cuts in 4 non-OPEC countries participating in the agreement.

 

 

 

 

 

 

 
Shortly after signing the agreement to cut oil production simultaneously, the OPEC members found themselves betrayed. According to the cartel’s estimates, the production cuts outside of the cartel are implemented only by 50% while inside the OPEC this is 92%. Even though the OPEC hasn’t made any open statements criticizing their non-OPEC partners, the cartel may well show their discontent with Russia and other participants of the agreement in the near future.
 
According to the agreement, Russia should be the one responsible for the biggest share of non-OPEC production cuts. However, instead of being cut, Russia’s oil export seems to be growing. On top of that, the OPEC is going to discuss the situation for those non-OPEC countries in February.
 

non%20OPEC%20582%202017.jpg

Even though the 4 countries were not specified during the statement, experts say that Russia is likely to be on the list. Over the first half of 2017, the non-OPEC participants of the oil agreement are obliged to cut their total production by 558K barrels a day relatively to the production volume seen in October 2016, with Russia being responsible for 300K bpd of that production cut. As for the OPEC, they have agreed to cut their total production by 1.2 million barrels per day. According to the February report, the OPEC’s production cuts reached 890K barrels per day.
 
The biggest cuts were implemented by Saudi Arabia, Iraq and the United Arab Emirates. At the same time, the oil production in Nigeria, Libya, and Iran increased. As of Russia, the planned production cuts are going to be implemented in several steps. Russia claims to have cut the local oil production by 117K barrels per day in January 2017 as opposed to the levels of October 2016. If that’s really the case, that’s twice as much as planned to be cut over the reporting period. This seems to be less oil production but more oil export for Russia.

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

European ETFs - Decent Alternative to American ETFs

The mentioned PRIIP rules are forcing the financial service providers and brokers to publish a specific set of info documents including the so-called KID with the key info on certain investment and insurance products. Since the funds coming from outside of Europe do not conform to these requirements, they cannot be offered to EU residents as investment products.
Publication date: 19 September 01:48 AM

Warren Buffett Keeps Loading Up On Bank of America's Stock

Berkshire Hathaway keeps loading up on Bank of America's stock. This time, during the period of July 31st - August 4th, they purchased over 13,6 million shares, which cost 337 million dollars. The average prices was 24,81 dollars per share. With that being said, Berkshire Hathaway now owns 1,03 billion shares of the stock, which is 26,15 billion dollars in dollar terms. As for the Federal Reserve, they agreed to increase the fund's share to 24,9%.

Publication date: 12 August 01:39 AM

WTI Price Drops After US Oil Inventories Report

Today, another crude oil inventories report has been released by the USA:

Publication date: 03 June 12:21 PM

Is Gold Worth Investing Amid Crisis?

Securing assets has always been number-one goal during crises. This is something that worries borth financial experts and plain folks who are far from the  peculiarities of the financial world but who are still witnessing their savings vanish amid inflation and devaluation.

Publication date: 14 April 02:09 AM

Remember the Key Rules of Investing in Stocks

Without further ado, let's consider a bunch of principles of investing in stock, which will put the odds of succeeding in this business in your favor:

Publication date: 11 March 01:14 AM

Apple Patents iPhone Without Ports And Holes, Device Expected In 2021

It seems that the release of the long-awaited iPhone without any ports or holes is getting more and more portable. Apple has always favored minimalistic designs, especially over the last 5 years. In 2015, almost all of the classic ports were deprecated in MacBooks in favor of a single one - USB-C Thunderbolt 3. In 2017, iPhone 7 got rid of the 3.5mm audio jack.

Publication date: 05 March 08:20 AM

Gold Sets New Records

The gold market is insane. The gold futures price set a new major high in New York. In particular, the dollar price of the precious metal set a new 7- year high. With that being said, maybe you should add gold to your investment portfolio along with BTC? Well,lat's ponder upon this question.

Publication date: 14 January 01:23 AM

Brent Prices Drop Down To $61/b

The concerns over the global demand for crude oil are getting back to the market again. The current trading week has been a week of discounts. Earlier today, Brent oil saw its price drop down to 61 dollars per barrel. The WTI price dropped all the way down to 56 dollars per barrel. The supply side has got an upper hand.
Publication date: 27 September 04:52 AM

Gold Prices Are Getting Stable After Monday's Rally

Last week was rich in the information about various financial markets, which could exert downward pressure on gold prices. Strange as it may seem, the situation in the ore market was relatively calm. Eventually, the week closed in the green zone. Those gains mainly had to do with Friday's gold rally. International traders and investors reacted to the information about another global economic slowdown coupled with the trade war between the United States and China as well as the current situation in the Middle East, and started loading up on gold as a safe-haven asset, which eventually pushed the prices higher. 

Publication date: 24 September 05:15 AM

Oil Prices Have Made The Biggest Rally In History

Gold, yen, and oil currencies are getting more expensive. The strike came for an unexpected direction. Saudi Arabia's oil facilities were attacked, which increased geopolitical risks in the region and simultaneously undermined the global oil supplies. That was basically the reason why crude oil prices made the biggest rally in history but then moved back a bit and are still trading over 10% higher relative to the start of the trading session. 
 
Publication date: 16 September 03:26 AM