Oil markets made history this week as Brent crude prices dipped below $78 to a four-year low. This comes ahead of a meeting by members of the Organization of the Petroleum Exporting Countries on Nov. 27th. Up for debate is whether or not Saudi Arabia, OPEC’s largest producer, will decide to cut production.
from Global Investing:
It was a gloomy, rainy night in Boston last week where emerging market analysts and portfolio managers huddled together before an audience of 75+ people to discuss an equally gloomy situation in Venezuela, specifically whether or not the nation, with the biggest proven oil reserves in the world, is on the precipice of defaulting on its debt.
from Ian Bremmer:
Plummeting oil prices — down more than 25 percent since June to three-year lows — should relieve pressure on consumers at the pump. But is it pushing oil-exporting regimes past the breaking point?
from The Great Debate:
Western sanctions have left Russia in dire financial circumstances -- stuck somewhere between recession and stagnation. Though proven solutions exist for what now ails Russia, President Vladimir Putin’s geo-strategic and political choices have rendered these traditional economic approaches unworkable.
from Global Markets Forum Dashboard:
Ebola will not be the last global epidemic, time to hit the reset button on how we treat it – author
(Updates with current news on New York City doctor testing positive for Ebola and World Health Organization's expectations for a vaccine.)
from Global Investing:
Many emerging economies have been banking on weaker currencies to revitalise economic growth. Oil's 25 percent fall in dollar terms this year should also help. The problem however is the dollar's strength which is leading to a general tightening of monetary conditions worldwide, more so in countries where central banks are intervening to prevent their currencies from falling too much.
from Morning Bid with David Gaffen:
Just when the market thought it was out, it got pulled back in. The Federal Reserve will release its minutes later in the day that details what it was thinking during its most recent September policy meeting, but of late, the markets have been of a mind that the expectations for higher rates ought to be tempered a bit.