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Thursday, 19 January 08:52 (GMT -05:00)



Stock and commodities markets

Kudrin Says Oil Will Cost Under $30/b Over the Next 20 Years


Former Russian Minister of Finance Mikhail Kudrin says that crude oil is going to see the period of ultra-low prices over the next 20 years. One of the most influential and respected Russian financiers specifies that crude oil is not going to cost more than $30 per barrel in the future.
 

 

 

 

Anton Siluanov, who is Mr. Kudrin’s successor, also shares this prediction. During the recent forum in Russia he underlined the importance of changing the budgetary rule that implies replenishing the reserve fund with the money gained from oil exports if the price is $40/b, not $50/b. For those of you who don’t know, the $50/b threshold was introduced back in April 2016. All the excessive profit gained from oil exports should be used to replenish the fund, which will sustain the fund and prevent the Russian Ruble from getting weaker against major currencies.
 

 

Mr. Siluanov believes that the safety cushion can be extended all the way up to 3 more years if handled properly and spend wisely. It’s important to note that if there are no changes made to the reserve funds, it will be exhausted in 2017 if spend at the current pace.  
 

 

 

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Text: Aleksandr Danilchenko
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Economic Calendar by Dukascopy 18.01.2017

Thursday brings the latest ECB statement, so let's take a closer look with the Economic Calendar.
Swiss Producer Price Index for December is up first at 8:15 AM. The Index has been growing for the past 3 months.
The closely watched ECB Monetary Policy Statement is out at 12:45 PM GMT, and make sure you tune in for the press conference 45 minutes later. President Draghi is sure to face plenty of questions about the latest developments which could cause some volatility in the markets.

Publication date: 18 January 10:10 AM

Economic Calendar by Dukascopy 17.01.2017

Tuesday brings the latest update on UK inflation, so keep watching this Economic Calendar to find out more.
In fact, the highly anticipated British December CPI is the first item on the schedule, and it's released at 9:30 AM. The annual inflation picked up speed in November, rising to a 2 year high.

Publication date: 17 January 09:42 AM

Economic Calendar by Dukascopy 16.01.2017

It's time for another Dukascopy Economic Calendar. Here's a rundown of the most important news releases scheduled for Monday, the 16th of January.

US markets will be closed for the Martin Luther King day, and the first item on the schedule comes one minute past midnight when the UK Rightmove House Price Index for January is released.

Publication date: 16 January 06:00 AM

Clean Energy Gets Popular, IEA Reports

In 2015, the amount of energy produced the “green” way outnumbered the amount of energy produced from fossil fuels in terms of growth for the first time in history. This is confirmed by the recent report released by the International Energy Agency (IEA).
 
Publication date: 21 December 01:55 PM

In 2017, Oil Market May See Both Deficit and Oversupply

The contemporary global market of crude oil may well go from oversupply to seeing a deficit in 2017. This is what several respected experts working for the International Energy Agency thing on the matter. For starters, this scenario need a major trigger in the form of signing the promised oil production cap agreement reached verbally by OPEC members in late September in Algeria.

 

 
Publication date: 17 November 05:35 PM

Oil Prices Get Ready For Another Plunge

Crude oil and the Russian Ruble have found themselves at 3-month lows. There are several reasons for that.  In particular, OPEC is reported to be producing record-high amounts of crude oil despite the recent verbal agreement to cap and even cut their production in the near future.
 
Publication date: 16 November 09:01 AM

OPEC's Oil Production Saw Record Highs In September 2016

According to the recent research conducted by Bloomberg, OPEC’s oil production reached a new high in September 2016. To be more specific, OPEC is reported to have been producing 33,75 million barrels a day over the reporting period.
 
The record high production of crude oil within the scope of cartel has to do with considerable production growth seen in Libya and Nigeria over the reporting period. For those of you who don’t know, the similar data taken for the previous month report 33,24 barrels a day, which means that OPEC’s oil production increased by as much as 170 thousand barrels a day in a matter of 4 weeks.
Publication date: 07 October 11:34 AM

OPEC Cuts Oil Production, Oil Prices Go Up

Despite all the skepticism around yesterday’s unofficial OPEC summit, the members of the cartel did finally manage to agree on production cuts for the benefit of higher oil prices as well as a more stable and stronger market of crude oil. Apparently, the breaking news instantly sent oil prices higher all around the globe.

 

 
Publication date: 29 September 04:30 AM

Samsung Loses $22 Billion of Market Cap in 2 Days

Samsung, the world-famous manufacturer of computer electronics from South Korea, saw its market capitalization shrink by as much as over 22 billion dollars in a matter of just 2 trading days. This happened amid a scandal with the new smartphone named Samsung Galaxy Note 7, Masterforex-V Academy reports.

Publication date: 13 September 05:29 AM

OPEC Wants Higher Oil Prices

According to the Algerian Minister of Oil, the oil prices around $50/b are unacceptable. During his visit to Iran. The minister told that oil prices should be at least between $50 and $60 per barrel. This statement was made during the discussion of the existing situation in the global market of crude oil as well as the ways and means to coordinate OPEC’s efforts to make the prices go higher, Market Leader reports.

Publication date: 08 September 12:40 PM