China’s inflation slows in January, potentially pushing officials to step in, says economist

CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data. Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year. While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak produ


CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data. Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year. While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak produ
China’s inflation slows in January, potentially pushing officials to step in, says economist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: huileng tan, getty images
Keywords: news, cnbc, companies, producer, weak, officials, inflation, statistics, risen, senior, wrote, slows, prices, chinas, price, step, economist, cpi, pushing, potentially


China's inflation slows in January, potentially pushing officials to step in, says economist

China’s Consumer Price Index missed expectations in January coming in at 1.7 percent higher than a year ago, the National Bureau of Statistics said on Friday.

Economists polled by Reuters were expecting CPI to come in at 1.9 percent higher year-over-year. December CPI — a gauge of prices for goods and services — had risen 1.9 percent on-year.

CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data.

Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year.

January marked the seventh straight month of slowing factory gate inflation, according to Reuters records.

The below-consensus inflation figures suggest that demand “remained sluggish” at the start of 2019, which may spur official action to support the economy, wrote Julian Evans-Pritchard, senior China economist at Capital Economics.

While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak producer price numbers are “a concern since these are highly correlated with profit growth in industry.”

He predicted Beijing will roll out measures, such as cutting benchmark lending rates, to ease financial pressure on industrial firms as factory gate inflation looks to deepen in the months ahead.

However, weak producer prices do not always feed through into the CPI due to the concentration of heavy industries in the PPI, said Sian Fenner, a senior economist at Oxford Economics. Weak oil prices recently weighed on PPI, she noted.

“We are still expecting the disparity between the two to continue,” she told CNBC.

The data comes amid a new round of U.S.-China talks in Beijing this week as the world’s two largest economies renewed efforts to reach a deal to defuse trade tensions.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: huileng tan, getty images
Keywords: news, cnbc, companies, producer, weak, officials, inflation, statistics, risen, senior, wrote, slows, prices, chinas, price, step, economist, cpi, pushing, potentially


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Should after-hours trading be part of your stock market strategy?

Have you wondered what after-hours trading actually is and how it works, and what risks are involved? After-hours trading, as the name implies, is a trading session that occurs after the markets close in which investors can place orders to buy or sell stock. There are, though, several differences between regular session trading and after-hours trading. Learn about the pros & cons of after-hours tradingAdvantages of after-hours tradingThere are several advantages to after-hours trading. Risks of


Have you wondered what after-hours trading actually is and how it works, and what risks are involved? After-hours trading, as the name implies, is a trading session that occurs after the markets close in which investors can place orders to buy or sell stock. There are, though, several differences between regular session trading and after-hours trading. Learn about the pros & cons of after-hours tradingAdvantages of after-hours tradingThere are several advantages to after-hours trading. Risks of
Should after-hours trading be part of your stock market strategy? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: provided schwab, lee bohl
Keywords: news, cnbc, companies, market, trade, trading, afterhours, regular, place, orders, strategy, liquidity, prices, session, traders, stock


Should after-hours trading be part of your stock market strategy?

Have you wondered what after-hours trading actually is and how it works, and what risks are involved? Here are some answers.

Have you ever turned on the news and heard reports on how a company is doing in after-hours trading after a big earnings announcement? Have you wondered what after-hours trading actually is and how it works, and what risks are involved? Here are some answers.

What is after hours trading?

Normal market hours are 9:30 a.m. to 4 p.m. ET. After-hours trading, as the name implies, is a trading session that occurs after the markets close in which investors can place orders to buy or sell stock. There is also a session prior to the market’s open which is called the pre-market session. Together both sessions are referred to as extended-hours trading.

How to trade after hours

So how are trades executed when the major exchanges are closed? Extended hours trading is made possible by computerized order matching systems called Electronic Markets, which can be either Electronic Communications Networks (ECNs) or Electronic Stock Exchanges. An electronic market is simply a service that matches up buy and sell orders. For example, if you place an order to buy 200 shares at $45, the computer looks to see if there is an order to sell at least 200 shares at $45. If there is, the trade is done, if not, then the order will not be filled. At Schwab, clients can place orders for after-market trading and execution between 4:05 and 8 p.m. ET. Commissions and settlement times are the same as for the regular session.

There are, though, several differences between regular session trading and after-hours trading. For example, in the after-hours session, not all order types are accepted. Traders can only use limit orders to buy, sell or short. Stop and stop limit orders and orders with special conditions such as fill-or-kill, immediate-or-cancel or all-or-none can’t be placed. Also, after-hours orders are only good for the particular session in which they are placed and do not carry over into any other session.

Learn about the pros & cons of after-hours trading

Advantages of after-hours trading

There are several advantages to after-hours trading.

Convenience: The after-hours session offers extended access to the market. Some traders simply aren’t able to place trades during the normal session due to their schedules. The after-hours session allows them to check out the current quotes and potentially place a trade at a more convenient time.

Ability to react to news events: Many companies release earnings after the close of the regular session. After-hours traders can immediately place trades to manage their positions without having to wait until the next day’s open. The example below shows IBM making a big move after hours after releasing their earnings report.

This same concept holds true for the pre-market session. Many economic reports, such as the significant monthly employment report, come out at 8:30 a.m. ET, well before the open of the regular session. Many companies report earnings before the opening bell as well. At Schwab, pre-market trades can be executed between 7 and 9:25 a.m. ET, allowing traders to react more quickly to these events.

Ability to act more quickly to technical signals: For traders who rely on technical analysis-based trading strategies, the after-hours session can be very beneficial. Many technically-oriented traders use closing price and volume figures to calculate trading signals. Once the signal is generated, the trader can place the trade immediately in the after-hours session without having to wait until the next morning when prices could be substantially different than where they were at the close of the regular session. The below is an example of an after-hours trade.

Risks of after-hours trading

While trading in the after-hours session can offer opportunities, there are also unique risks to be considered.

Non-consolidated quotes: In the regular session, the quotes you see are consolidated and represent the best available prices across all trading venues. In the after-hours, on the other hand, the quotes are not consolidated. You may only see prices from one venue and these may not reflect the prices displayed in other electronic trading systems for the same security.

Uncertain prices: The prices of some securities traded in the after-market may not reflect the prices of those securities at the close or open of the regular session.

Lower liquidity: Liquidity refers to the ability of traders to buy and sell securities easily without materially affecting prices. Generally, the more market participants there are and the more orders that are available, the greater the liquidity, allowing traders to get their orders executed quickly at competitive prices. Liquidity can be substantially lower in the after-market session. This can lead to delays in execution, partial fills or no fills at all. Also, some stocks may simply not trade after-hours.

Wider spreads: The spread is the difference between the bid (the highest price offered by all buyers) and the ask (the lowest price offered by all sellers). Because of generally lower liquidity, spreads tend to be wider in the after-market session than in the regular session.

Higher volatility: Volatility refers to the range of prices that occur in trading. Due to the lower liquidity and wider spreads in the after-market, volatility can be considerably higher than in the regular session. This could lead to inferior pricing on some trades.

Lack of calculation of index values: For traders dealing with certain index-based products, the lack of calculation or dissemination of index values in the after-market could put an individual investor at a disadvantage to those professionals who have access to proprietary systems which can quickly calculate index values based on individual stock prices.

The decision to trade after hours depends, of course, on your investment goals, trading style, and risk tolerance. While trading in the extended sessions is not for everybody, for those traders who understand both the potential risks and opportunities, it is certainly an avenue to explore.

Standard market vs. extended hours sessions

What You Can Do Next


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: provided schwab, lee bohl
Keywords: news, cnbc, companies, market, trade, trading, afterhours, regular, place, orders, strategy, liquidity, prices, session, traders, stock


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman sees oil rising toward $70, says demand forecasts are too gloomy

Oil prices have struggled to rally above $64 a barrel since last quarter’s sharp pullback, but Goldman Sachs believes crude futures could break out in the coming months. Goldman’s outlook is based on its view that forecasts for demand growth have grown too gloomy and OPEC has adopted a “shock and awe” approach to pulling back supply. “Our constructive outlook for oil prices in 1H19 is predicated on both large supply cuts as well as resilient oil demand growth,” Goldman analysts said in a researc


Oil prices have struggled to rally above $64 a barrel since last quarter’s sharp pullback, but Goldman Sachs believes crude futures could break out in the coming months. Goldman’s outlook is based on its view that forecasts for demand growth have grown too gloomy and OPEC has adopted a “shock and awe” approach to pulling back supply. “Our constructive outlook for oil prices in 1H19 is predicated on both large supply cuts as well as resilient oil demand growth,” Goldman analysts said in a researc
Goldman sees oil rising toward $70, says demand forecasts are too gloomy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: tom dichristopher, nick oxford
Keywords: news, cnbc, companies, sees, million, rising, outlook, forecasts, view, goldman, growth, grow, gloomy, demand, international, prices, oil, 70


Goldman sees oil rising toward $70, says demand forecasts are too gloomy

Oil prices have struggled to rally above $64 a barrel since last quarter’s sharp pullback, but Goldman Sachs believes crude futures could break out in the coming months.

The investment bank forecasts international benchmark Brent crude will peak at $67.50 a barrel in the second quarter. Goldman’s outlook is based on its view that forecasts for demand growth have grown too gloomy and OPEC has adopted a “shock and awe” approach to pulling back supply.

“Our constructive outlook for oil prices in 1H19 is predicated on both large supply cuts as well as resilient oil demand growth,” Goldman analysts said in a research note released on Tuesday evening.

Goldman believes the world’s appetite for oil will grow by 1.4 million barrels per day in 2019. That’s in line with the International Energy Agency’s outlook, but above the consensus on Wall Street and OPEC’s view that demand will grow by just 1.24 million bpd.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: tom dichristopher, nick oxford
Keywords: news, cnbc, companies, sees, million, rising, outlook, forecasts, view, goldman, growth, grow, gloomy, demand, international, prices, oil, 70


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Headlines say there’s no inflation, but look at what’s getting more expensive

“Please stop telling me there is no inflation,” Peter Boockvar, chief investment officer Bleakley Advisory Group, said in a note on Wednesday after the consumer price index report. He pointed out that services inflation excluding energy has grown persistently with a 0.2 percent increase month-over-month and 2.8 percent year-over-year. The headline figure saw no change in January largely because cheaper gasoline offset the increases in other areas. Gasoline prices fell 5.5 percent last month afte


“Please stop telling me there is no inflation,” Peter Boockvar, chief investment officer Bleakley Advisory Group, said in a note on Wednesday after the consumer price index report. He pointed out that services inflation excluding energy has grown persistently with a 0.2 percent increase month-over-month and 2.8 percent year-over-year. The headline figure saw no change in January largely because cheaper gasoline offset the increases in other areas. Gasoline prices fell 5.5 percent last month afte
Headlines say there’s no inflation, but look at what’s getting more expensive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: yun li, spencer platt, getty images
Keywords: news, cnbc, companies, tuition, price, headline, energy, inflation, headlines, look, gasoline, whats, yearoveryearthe, say, expensive, getting, increase, prices, theres, 02


Headlines say there's no inflation, but look at what's getting more expensive

“Please stop telling me there is no inflation,” Peter Boockvar, chief investment officer Bleakley Advisory Group, said in a note on Wednesday after the consumer price index report. He pointed out that services inflation excluding energy has grown persistently with a 0.2 percent increase month-over-month and 2.8 percent year-over-year.

The headline figure saw no change in January largely because cheaper gasoline offset the increases in other areas. Gasoline prices fell 5.5 percent last month after dropping 5.8 percent in December.

On the surface, the headline CPI number is showing that inflation is contained. But the core rate of inflation, which doesn’t consider energy and food prices because they fluctuate easily, has risen 0.2 percent for each of the past five months.

Another price increase that is essential to the average family is tuition. In January, college tuition and fees were higher by 2.9 percent on a year-over-year basis, while elementary and high school tuition was up by 4.4 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: yun li, spencer platt, getty images
Keywords: news, cnbc, companies, tuition, price, headline, energy, inflation, headlines, look, gasoline, whats, yearoveryearthe, say, expensive, getting, increase, prices, theres, 02


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

BP CEO Bob Dudley warns oil market uncertainty could lead to a ‘real crunch’

A flurry of intensifying risks could trigger an energy market “crunch” over the coming months, according to the chief executive of BP. His comments come at a time when energy market participants expect U.S. sanctions on crisis-stricken Venezuela, as well as OPEC-led production cuts, to offset a potential supply glut this year. When asked whether production cuts from the so-called OPEC+ coalition were likely to help stabilize oil prices, Dudley replied: “Well, there’s a lot of variables here and


A flurry of intensifying risks could trigger an energy market “crunch” over the coming months, according to the chief executive of BP. His comments come at a time when energy market participants expect U.S. sanctions on crisis-stricken Venezuela, as well as OPEC-led production cuts, to offset a potential supply glut this year. When asked whether production cuts from the so-called OPEC+ coalition were likely to help stabilize oil prices, Dudley replied: “Well, there’s a lot of variables here and
BP CEO Bob Dudley warns oil market uncertainty could lead to a ‘real crunch’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: sam meredith
Keywords: news, cnbc, companies, oil, production, opec, uncertainty, prices, ceo, lead, venezuela, warns, dudley, real, bp, energy, theres, market, sanctions, crunch


BP CEO Bob Dudley warns oil market uncertainty could lead to a 'real crunch'

A flurry of intensifying risks could trigger an energy market “crunch” over the coming months, according to the chief executive of BP.

His comments come at a time when energy market participants expect U.S. sanctions on crisis-stricken Venezuela, as well as OPEC-led production cuts, to offset a potential supply glut this year.

When asked whether production cuts from the so-called OPEC+ coalition were likely to help stabilize oil prices, Dudley replied: “Well, there’s a lot of variables here and there’s a lot of things that could lead to a real crunch.”

Speaking to CNBC’s Dan Murphy at an energy forum in Cairo, Egypt, Dudley cited “tragic circumstances” in Venezuela, uncertainty in Libya, rising production levels from the Permian Basin and the impact of U.S. sanctions on Iran.

“So, the OPEC+ countries agreed to reduce production in the first quarter, we don’t even really have data from it. We will have to see what the data looks like but the markets feel tight to me.”

“We plan BP on a sort of fairway, which I think is good for the world, between $50 a barrel and $65. That’s good for producers and consumers,” Dudley said.

Brent crude, the international benchmark for oil prices, was trading at $61.90 a barrel Tuesday morning, up 0.6 percent, while West Texas Intermediate (WTI) stood at $52.68, 0.5 percent higher.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: sam meredith
Keywords: news, cnbc, companies, oil, production, opec, uncertainty, prices, ceo, lead, venezuela, warns, dudley, real, bp, energy, theres, market, sanctions, crunch


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer Remix: Don’t let Wall Street convince you there’s a ‘Fed-induced bubble’

The idea that the Federal Reserve has created a bubble in stock prices by pausing its initially hawkish rate hike agenda sounds like “nonsense” to CNBC’s Jim Cramer. Why would people want the Fed to resume its aggressive rate hike agenda, a move that would almost definitely lead to lower stock prices? “I think we should question the sanity of anyone who desperately wants the Fed to tighten,” he said. “Take this idea of a Fed-induced bubble off the table,” Cramer said. “We have an economic expans


The idea that the Federal Reserve has created a bubble in stock prices by pausing its initially hawkish rate hike agenda sounds like “nonsense” to CNBC’s Jim Cramer. Why would people want the Fed to resume its aggressive rate hike agenda, a move that would almost definitely lead to lower stock prices? “I think we should question the sanity of anyone who desperately wants the Fed to tighten,” he said. “Take this idea of a Fed-induced bubble off the table,” Cramer said. “We have an economic expans
Cramer Remix: Don’t let Wall Street convince you there’s a ‘Fed-induced bubble’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: elizabeth gurdus, carlo allegri, source, adam jeffery, scott mlyn
Keywords: news, cnbc, companies, theyre, fed, wall, convince, theres, rate, bubble, street, let, dont, stock, thats, prices, cramer, lower, remix, money, stocks, fedinduced


Cramer Remix: Don't let Wall Street convince you there's a 'Fed-induced bubble'

The idea that the Federal Reserve has created a bubble in stock prices by pausing its initially hawkish rate hike agenda sounds like “nonsense” to CNBC’s Jim Cramer.

“I can’t stress this point enough: When people talk about a Fed-induced bubble, they mean the Fed should be out there tightening aggressively and laying waste to the economy,” the “Mad Money” host said Tuesday after an intraday rally.

Why would people want the Fed to resume its aggressive rate hike agenda, a move that would almost definitely lead to lower stock prices? Cramer thinks it has something to do with hedge fund managers, who make up a large portion of this growing chorus and tend to make money short-selling stocks, or profiting on a bet that they’ll trade lower.

“I think we should question the sanity of anyone who desperately wants the Fed to tighten,” he said. “They’re either crazy or they genuinely want stocks to go lower because they have way too many short positions on and they’re lagging the S&P 500.”

So, what’s the next move for homegamers?

“Take this idea of a Fed-induced bubble off the table,” Cramer said. “We have an economic expansion that’s been fueled in part by lower taxes, and that’s a good thing.”


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: elizabeth gurdus, carlo allegri, source, adam jeffery, scott mlyn
Keywords: news, cnbc, companies, theyre, fed, wall, convince, theres, rate, bubble, street, let, dont, stock, thats, prices, cramer, lower, remix, money, stocks, fedinduced


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil prices fall as U.S. rig count rise, trade concerns

Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns. International Brent crude oil futures were down 49 cents, or 0.8 percent, at $61.61 a barrel. Analysts said economic concerns were also weighing on crude oil futures. The United States has threatened to increase tariffs already imposed on goods from China on March 1 if the trade talks do not produce an agree


Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns. International Brent crude oil futures were down 49 cents, or 0.8 percent, at $61.61 a barrel. Analysts said economic concerns were also weighing on crude oil futures. The United States has threatened to increase tariffs already imposed on goods from China on March 1 if the trade talks do not produce an agree
Oil prices fall as U.S. rig count rise, trade concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, trade, concerns, deal, crude, prices, rise, states, count, fall, markets, oil, united, rig, week, china


Oil prices fall as U.S. rig count rise, trade concerns

Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns.

A refinery fire in the U.S. state of Illinois, which resulted in the shutdown of a large crude distillation unit, that could cause crude demand to fall also weighed on prices, traders said.

U.S. West Texas Intermediate (WTI) crude futures were at $52.09 per barrel at 0347 GMT, down 63 cents, or 1.2 percent, from their last settlement.

International Brent crude oil futures were down 49 cents, or 0.8 percent, at $61.61 a barrel.

In the United States, energy firms last week increased the number of oil rigs operating for the second time in three weeks, a weekly report by Baker Hughes said on Friday.

Companies added seven oil rigs in the week to Feb. 8, bringing the total count to 854, pointing to a further rise in U.S. crude production, which already stands at a record 11.9 million bpd.

WTI prices were also weighed down by the closure of a 120,000-barrels-per-day (bpd) crude distillation unit (CDU) at Phillips 66’s Wood River, Illinois, refinery following a fire on Sunday.

Elsewhere, the head of Russian oil giant Rosneft, Igor Sechin, has written to the Russian President Vladimir Putin saying Moscow’s deal with the Organization of the Petroleum Exporting Countries (OPEC) to withhold output is a strategic threat and plays into the hands of the United States.

The so-called OPEC+ deal has been in place since 2017, aimed at reining in a global supply overhang. It has been extended several times and, under the latest deal, participants are cutting output by 1.2 million bpd until the end of June.

OPEC and its allies will meet on April 17 and 18 in Vienna to review the pact.

Analysts said economic concerns were also weighing on crude oil futures.

Vandana Hari of Vanda Insights said in a note that crude prices were dragged down “as China returned from a week-long Lunar New Year holiday and regional stock markets plunged into the red amid resurgent concerns over the U.S.-China trade dispute.”

Trade talks between the Washington and Beijing resume this week with a delegation of U.S. officials travelling to China for the next round of negotiations. The United States has threatened to increase tariffs already imposed on goods from China on March 1 if the trade talks do not produce an agreement.

Preventing crude prices from falling further have been U.S. sanctions on Venezuela, targeting its state-owned oil firm Petroleos de Venezeula SA (PDVSA).

“The issues in Venezuela continue to support prices. Reports are emerging that PDVSA is scrambling to secure new markets for its crude, after the U.S. placed additional sanctions on the country,” ANZ bank said on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: jean-paul pelissier
Keywords: news, cnbc, companies, trade, concerns, deal, crude, prices, rise, states, count, fall, markets, oil, united, rig, week, china


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

$60 to $70 is a fair price for a barrel of oil, Egypt’s petroleum minister says

There is a fair price for a barrel of oil and OPEC and its non-OPEC partners are close to achieving it through their deal to cut production, according to Egypt’s Petroleum Minister Tarek El-Molla. “It is in the range between $60 and $70 a barrel … somewhere in this bracket of price,” El Molla told CNBC on Sunday when asked if oil prices were at an acceptable level to keep producers and consumers happy. If we see prices go down below a certain price then we will see a slowdown in investments,” he


There is a fair price for a barrel of oil and OPEC and its non-OPEC partners are close to achieving it through their deal to cut production, according to Egypt’s Petroleum Minister Tarek El-Molla. “It is in the range between $60 and $70 a barrel … somewhere in this bracket of price,” El Molla told CNBC on Sunday when asked if oil prices were at an acceptable level to keep producers and consumers happy. If we see prices go down below a certain price then we will see a slowdown in investments,” he
$60 to $70 is a fair price for a barrel of oil, Egypt’s petroleum minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: holly ellyatt, mohd jailanee othman, eyeem, getty images
Keywords: news, cnbc, companies, barrels, production, fair, million, egypts, barrel, minister, 60, prices, producers, day, petroleum, opec, oil, price, 70


$60 to $70 is a fair price for a barrel of oil, Egypt's petroleum minister says

There is a fair price for a barrel of oil and OPEC and its non-OPEC partners are close to achieving it through their deal to cut production, according to Egypt’s Petroleum Minister Tarek El-Molla.

“It is in the range between $60 and $70 a barrel … somewhere in this bracket of price,” El Molla told CNBC on Sunday when asked if oil prices were at an acceptable level to keep producers and consumers happy.

“If prices of crude increase significantly we would start to see inflation and an exaggeration in the slowdown in consumption from the other side. If we see prices go down below a certain price then we will see a slowdown in investments,” he said.

“So, actually, the fair equation is to have a balanced price between the producers and the consumers whereby each party is happy and to continue the growth of the global economy.”

Egypt is a significant oil and natural gas producer in the Middle East although it’s not a member of OPEC and its output is dwarfed by members of the oil producing group and other non-OPEC producers like Russia.

Egypt is aiming to boost production modestly in 2019, to 670,000 barrels a day, although its output still trails that of others in the region. The latest figures from OPEC’s monthly report in January showed that Egypt’s oil producing neighbors to the west, Libya and Algeria, produced 928,000 barrels a day and a million barrels a day respectively in December. OPEC lynchpin Saudi Arabia produced 10.5 million barrels a day.

OPEC and non-OPEC producers including Russia (collectively known as ‘OPEC plus’) have collaborated in recent years on cutting or increasing their oil production in a bid to stabilize oil prices which have been volatile since 2014.

They last agreed in December to cut oil production by 1.2 million barrels a day in order to put a floor under prices, which have fallen due to rising oil supply and lackluster demand amid an uncertain global growth outlook.

On Monday morning, Brent crude futures were trading at $61.87 a barrel while West Texas Intermediate (WTI) crude futures was trading at $52.25 a barrel. Prices took a dip in the early trading session on Monday after data showed drilling activity in the U.S., now the world’s largest oil producer, had increased again, pointing higher production.

The OPEC-Plus deal has not yet been realized fully with Russia slower to meet the desired output cut. Once the 1.2 million barrel a day cut was reached, El Molla said “I think it will adjust, and reach, the desired outcome of price.”

Speaking to CNBC’s Dan Murphy at the Egypt Petroleum Show, ‘EGYPS, ‘taking place in Cairo, El Molla said oil markets were “somehow close” to a price that can keep both oil producers happy because although oil prices have fallen from peaks of around $114 a barrel in mid-2014, production costs have also fallen with technological advances.

“With the advancement of technology, new ways of producing oil have added new volumes to the market and this technology means you’re reducing the cost per barrel, and what might have been accepted a few years ago back when we were talking about $100, or $90 or $80, a barrel oil wouldn’t be accepted now.”


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: holly ellyatt, mohd jailanee othman, eyeem, getty images
Keywords: news, cnbc, companies, barrels, production, fair, million, egypts, barrel, minister, 60, prices, producers, day, petroleum, opec, oil, price, 70


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Australia’s consumer is in pretty good shape: JB Hi-Fi CEO

Australia’s consumer is in pretty good shape: JB Hi-Fi CEO7 Hours AgoRichard Murray of JB Hi-Fi discusses the company’s earnings report and performance amid the decline in Australia’s house prices. He also says he is focused on “managing risk” because he runs a low-margin business.


Australia’s consumer is in pretty good shape: JB Hi-Fi CEO7 Hours AgoRichard Murray of JB Hi-Fi discusses the company’s earnings report and performance amid the decline in Australia’s house prices. He also says he is focused on “managing risk” because he runs a low-margin business.
Australia’s consumer is in pretty good shape: JB Hi-Fi CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-10
Keywords: news, cnbc, companies, ceo, australias, consumer, pretty, jb, risk, prices, good, hifi, report, performance, runs, shape


Australia's consumer is in pretty good shape: JB Hi-Fi CEO

Australia’s consumer is in pretty good shape: JB Hi-Fi CEO

7 Hours Ago

Richard Murray of JB Hi-Fi discusses the company’s earnings report and performance amid the decline in Australia’s house prices. He also says he is focused on “managing risk” because he runs a low-margin business.


Company: cnbc, Activity: cnbc, Date: 2019-02-10
Keywords: news, cnbc, companies, ceo, australias, consumer, pretty, jb, risk, prices, good, hifi, report, performance, runs, shape


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China will drive Australia’s interest rate policies: COO

China will drive Australia’s interest rate policies: COO9 Hours AgoNick Twidale of Rakuten Securities Australia says China’s slowing economy is the “dominant factor” that could drive Australia’s interest rate policy, but declining house prices locally is “not far behind.”


China will drive Australia’s interest rate policies: COO9 Hours AgoNick Twidale of Rakuten Securities Australia says China’s slowing economy is the “dominant factor” that could drive Australia’s interest rate policy, but declining house prices locally is “not far behind.”
China will drive Australia’s interest rate policies: COO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-10
Keywords: news, cnbc, companies, slowing, interest, coo, australias, rakuten, policy, securities, prices, twidale, rate, policies, china, drive


China will drive Australia's interest rate policies: COO

China will drive Australia’s interest rate policies: COO

9 Hours Ago

Nick Twidale of Rakuten Securities Australia says China’s slowing economy is the “dominant factor” that could drive Australia’s interest rate policy, but declining house prices locally is “not far behind.”


Company: cnbc, Activity: cnbc, Date: 2019-02-10
Keywords: news, cnbc, companies, slowing, interest, coo, australias, rakuten, policy, securities, prices, twidale, rate, policies, china, drive


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post