Tag Archive

‘President Buhari asked us to focus on Northern Nigeria’- World Bank president, Jim Yong Kim, claims

‘President Buhari asked us to focus on Northern Nigeria’- World Bank president, Jim Yong Kim, claims

October 13, 2017 No Comments

The President of the World Bank Group, Jim Yong Kim, held a press conference in Washington D.C yesterday and spoke about World Bank activities in Africa. While addressing the press, Kim reportedly said that in his first meeting with President Buhari, the president asked that the world bank should specifically shift its focus to Northern […]

EIA Guestimates Keep Oil Prices Subdued

EIA Guestimates Keep Oil Prices Subdued

September 5, 2017 No Comments

The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks. The monthly EIA oil production figures tend to be more accurate than the weekly estimates, although they are published on several months after the fact. The […]

IMF Concludes 2017 Article IV Consultation with Bahrain

IMF Concludes 2017 Article IV Consultation with Bahrain

August 22, 2017 No Comments

On June 5, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Kingdom of Bahrain. Background Bahrain’s fiscal and external vulnerabilities have increased in the wake of the oil price decline. Overall GDP grew 3 percent in 2016, supported by strong growth of 3.7 percent in the […]

IMF Completes Second Review of Iraq’s Stand-By Arrangement

IMF Completes Second Review of Iraq’s Stand-By Arrangement

August 2, 2017 No Comments

The Executive Board of the International Monetary Fund (IMF) today completed the second review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The completion of the second review allows the authorities to draw the equivalent of SDR 584.2 million (about […]

IMF Approves US$642 Million for Gabon

IMF Approves US$642 Million for Gabon

July 31, 2017 No Comments

On June 19, 2017, the International Monetary Fund (IMF) approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Gabon for SDR 464.4 million (about US$642 million), or 215 percent of Gabon’s quota, in support of the authorities’ medium-term recovery program. The EFF-supported program will help Gabon ensure macroeconomic stability and lay the […]

IMF Concludes Consultation with the United Arab Emirates

IMF Concludes Consultation with the United Arab Emirates

July 14, 2017 No Comments

On July 7, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the United Arab Emirates and considered and endorsed the staff appraisal without a meeting. Economic performance was subdued during most of 2016. Together with weaker oil prices and slower oil output growth, the postponement of some […]

Deeper OPEC Cuts ??

Deeper OPEC Cuts ??

July 6, 2017 No Comments

Don’t Hold Your Breath For Deeper OPEC Cuts The rally in oil prices over the past two weeks came to a halt on Wednesday on news that OPEC is actually exporting more oil than previously thought. A month ago, oil prices appeared to be higher than they should have been, with weak demand, elevated inventories, […]

Is A Big Move In Oil Prices Due?

Is A Big Move In Oil Prices Due?

June 29, 2017 No Comments

In options trading, a straddle is literally a sit-on-the-fence strategy. By purchasing a put and a call at the same strike (price of underlying commodity) for the same time period, an investor isn’t making a conventional directional bet; rather the investor is looking for a big move either up or down. The rub is that […]

Niger Delta Militants Call Off Oil War

Niger Delta Militants Call Off Oil War

June 29, 2017 No Comments

A new militant group in the oil-rich Niger Delta is calling off the war it had threatened to start on June 30, and has decided to “give peace a chance”, in what could be a relief for Nigeria that has just started to recover its oil production that was crippled by militant attacks last year. […]

Is There Still Hope For Higher Oil Prices?

Is There Still Hope For Higher Oil Prices?

June 26, 2017 No Comments

Oil prices have cratered in recent weeks, dipping to their lowest levels in more than seven months and any sense of optimism has almost entirely disappeared. All signs point to a period of “lower for longer” for oil prices, a refrain that is all too familiar to those in the industry. WTI dipped below $44 […]

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