Fwd: Oil

'OPEC produced more than its 30 million-barrel daily target in each of the past six months, data compiled by Bloomberg show. Non-OPEC production will expand 2.3 percent next year to 57.84 million barrels a day after climbing 3.5 percent this year, the International Energy Agency forecast in a Dec. 12 report.

"Irresponsible production from outside OPEC is behind the fall in prices," Mazrouei said. "We call on all other producers to stop the increase." …

Crude tumbled into a bear market this year as oil extraction soared at shale formations in Texas and North Dakota

http://www.bloomberg.com/news/2014-12-21/non-opec-producers-called-on-to-cut-oil-output-amid-oversupply.html

Fwd: China

'China is stepping up its role as the lender of last resort to some of the world's most financially strapped countries.

Chinese officials signaled Saturday that they are willing to expand a $24 billion currency swap program to help Russia weather the worst economic crisis since the 1998 default. China has provided $2.3 billion in funds to Argentina since October as part of a currency swap, and last month it lent $4 billion to Venezuela, whose reserves cover just two years of debt payments. '

http://www.bloomberg.com/news/2014-12-22/yuan-ruble-swap-shows-china-challenging-imf-as-emergency-lender.html

 

 

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Best wishes,

John Coffey

http://www.entertainmentjourney.com

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Fwd: Oil and the dollar

'Commodity prices are inversely correlated to the dollar. The oft-cited rationale is that a stronger currency makes dollar-priced commodities more expensive to buyers using other currencies.

The ICE dollar index DXY, +0.12% a measure of the currency against a basket of six major rivals, is up more than 10.8% since the beginning of the year. Moreover, the index is up more than 10.3% since the beginning of May.

Binky Chadha, chief global strategist at Deutsche Bank, argues that the strong dollar is the primary factor in oil's decline. After all, oil supplies have been building for a long time. It's hard to believe that investors just "suddenly woke up" to the oil glut at midyear, he said.

http://www.marketwatch.com/story/here-are-the-reasons-oil-is-plunging-toward-60-2014-12-10

Fwd: Airbus

'Airbus raised the prospect of discontinuing its A380 superjumbo as soon as 2018, the first admission that it may have misjudged the market for the double-decker after failing to find a single airline buyer this year.'

 

http://www.businessweek.com/videos/2014-12-11/airbus-considers-ditching-a380-in-2018-as-buyers-lag#r=lr-sr