Research Team at BBH, notes that the price of oil has fallen about 8% this week, its worst week since March.
“OPEC's decision last week not to provide a new quota coupled with news yesterday that OPEC output rose in the lead-up to that meeting have pushed prices lower. The 230k barrel per day increase in OPEC output to 31.695 mln barrels is about 900k more than its projected 2016 demand.”
“It also marks a three-year high. And this does not appear to be the peak in output. Iranian production appears to account for most of the increase, which more than offset a slight decline in Saudi Arabian output, according to OPEC data.”
January 23, 2017 The Week ahead: Politics to take center stage
Donald Trump is finally in power, a new era has arrived, and his policy plans in the first couple of weeks will override fundamentals. Markets spent more than two months pricing in growth policies promises, lowers corporate taxes, and deregulations, now it is time to deliver as markets will no more move on words but actions...
January 23, 2017 Dollar opens weak as markets cautious on the new Trump administration
The U.S. dollar continued to extend the declines for what could a third consecutive day. On Friday, Donald Trump took office as the 45th President of the United States...
January 20, 2017 The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
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