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Thread: Saudi Arabia and OPEC are doomed.

  1. #91
    Rig Count Climbs Higher After Last Week’s Intermission

    http://oilprice.com/Energy/Energy-General/Rig-Count-Climbs-Higher-After-Last-Weeks-Intermission.html


    Oil Prices Tank As OPEC Exports Surge

    http://oilprice.com/Energy/Oil-Prices/Oil-Prices-Tank-As-OPEC-Exports-Surge.html

    Russia Now Ready To Consider More Oil Output Cuts If Needed

    Just a day after Russia’s Energy Minister Alexander Novak said that the OPEC/non-OPEC production cut pact was working and that there was no need to make immediate additional moves, an energy minister official told Russian reporters on Friday that Moscow was ready to review proposals from partners in the deal, including changes to production cuts.
    http://oilprice.com/Energy/Energy-Ge...If-Needed.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  3. #92
    Quote Originally Posted by Zippyjuan View Post
    Production cuts are intended to keep the price of oil down. Lower prices makes it harder for some fracking producers to be profitable- forcing them to shut down. That lowers supply and would allow Saudi Arabia and Russia to increase their market share and will raise price in the future for them. Russia's "cut" isn't much of a cut for them- prior to the latest production allocation they cranked up their facilities to maximum output- a level they would have difficulties sustaining. The "cut" takes them "down" to their usual output.
    Production cut = less supply = upward price pressure.

    Try again.
    "Like an army falling, one by one by one" - Linkin Park

  4. #93
    OPEC Considers Capping Oil Output Of Exempt Libya, Nigeria

    http://oilprice.com/Latest-Energy-Ne...a-Nigeria.html




    What with the Qatar crisis and this, that next OPEC meeting is going to be INTERESTING.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  5. #94
    If the marginal cost of oil for the next 3 or 4 years really is headed to the mid-$40 range then OPEC’s attempts to push prices to $60 seem futile.

    http://www.zerohedge.com/news/2017-07-08/when-facts-change-oils-biggest-cheerleader-capitulates-andy-halls-full-bearish-lette
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  6. #95
    BofA Stunned By Drop In Gasoline Demand: "Where Is Driving Season?"

    http://www.zerohedge.com/news/2017-07-08/bofa-stunned-drop-gasoline-demand-where-driving-season
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  7. #96



    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  9. #97
    What Oil Bulls Don’t Know About Global Inventories

    The problem is that, as has been the case over the past year, stockpiles aren't coming down because the oil is being used, it's just being moved overseas. And nowhere is this more visible than in the record amount of oil exported overseas.

    http://oilprice.com/Energy/Oil-Price...ventories.html


    Trump’s First Step To Boost Gulf Of Mexico Drilling


    The US Bureau of Ocean Energy Management (BOEM) announced last week it is lowering royalties on oil and gas production in the shallow water Gulf of Mexico. With rates set to drop to 12.5 percent, from a current 18.75 percent.

    The revised rates will apply to wells drilled in less than 200 meters water depth. With deeper-water wells continuing to command the 18.75 percent royalty.
    Changes in royalties will apply to all new wells in shallow water going forward — but will not be applied retroactively to existing projects.

    http://oilprice.com/Energy/Energy-Ge...-Drilling.html



    OPEC: Further Cuts Off The Table

    http://oilprice.com/Energy/Energy-Ge...The-Table.html


    World’s Third Largest Oil Importer Secures Deal With U.S.


    Indian Oil Corp. will take delivery of more than a million barrels of U.S. heavy crude in October—the first U.S. crude oil purchase by an Indian energy company, IOC’s finance chief told Reuters, and certainly not the last one.
    The deal includes 1.6 million barrels of Mars crude plus 400,000 barrels of Western Canadian Select, to be shipped to by PetroChina. The price, IOC’s A.K. Sharma said, was “very competitive” to Iraq’s Basra Light, and as long as it stays that way, more U.S. oil will ship to India.

    http://oilprice.com/Latest-Energy-Ne...l-With-US.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  10. #98
    Iraq Starts Drilling At Oilfield On Iranian Border

    State-producer Maysan Oil Company will oversee the oil and natural gas development at the critical field, which was launched during a visit from Oil Minister Jabrane Al-Luaibi.
    Another statement from the oil ministry said the Haifaya oil field, operated by PetroChina, is set to undergo expansion work that will double its output to 400,000 barrels per day by the end of next year.

    http://oilprice.com/Latest-Energy-Ne...an-Border.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  11. #99
    Oman Supports Organized Oil Production Cuts Beyond March 2018

    http://oilprice.com/Latest-Energy-News/World-News/Oman-Supports-Organized-Oil-Production-Cuts-Beyond-March-2018.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  12. #100
    U.S. To Be A Top-Ten Oil Exporter In Three Years

    http://oilprice.com/Latest-Energy-Ne...ree-Years.html


    Saudis Not Cutting August Crude Delivery To India, Southeast Asia

    http://oilprice.com/Latest-Energy-Ne...east-Asia.html


    EIA World Oil Demand Prediction Drops By 70,000 Barrels

    http://oilprice.com/Latest-Energy-Ne...0-Barrels.html


    Oil Under Pressure As Saudis Break Key Promise


    Saudi Arabia has told OPEC that it had pumped 10.07 million barrels per day in June, up by 190,000 bpd from May, and exceeding its 10.058-million-bpd production level quota under the output cut deal, Bloomberg reported on Tuesday, citing a person with knowledge of the data.
    OPEC’s Monthly Oil Market Report with data for June is expected to be released on Wednesday, July 12. According to the latest currently available OPEC report with data for May, Saudi Arabia directly communicated to OPEC that its crude oil output in May was 9.880 million bpd. According to secondary sources, which the market is looking at, Saudi Arabia’s oil production in May was 9.940 million bpd.
    Under the OPEC/non-OPEC deal to cut production, Saudi Arabia pledged to take 486,000 bpd off its October 2016 level output and keep production at 10.058 million bpd.

    The market will be watching closely OPEC’s data on Wednesday, but it typically gives production numbers, not exports. According to ClipperData, OPEC’s exports—including those of Saudi Arabia—jumped in June, and the cartel exported more crude in June than it did in October, while total global crude exports are over 10 percent higher than year-ago levels.

    http://oilprice.com/Energy/Crude-Oil...y-Promise.html


    Kazakhstan Bows Out Of OPEC Deal

    http://oilprice.com/Energy/Crude-Oil...OPEC-Deal.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  13. #101
    Correction:

    Kazakhstan Not Backing Out Of OPEC Production Cut Deal

    http://oilprice.com/Latest-Energy-News/World-News/Kazakhstan-Not-Backing-Out-Of-OPEC-Production-Cut-Deal.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  14. #102
    First Private Offshore Exploration In Mexico Yields 1-Billion-Barrel Find

    http://oilprice.com/Latest-Energy-News/World-News/First-Private-Offshore-Exploration-In-Mexico-Yields-1-Billion-Barrel-Find.html


    OPEC Still Overproducing: Scapegoats U.S. Shale

    http://oilprice.com/Energy/Crude-Oil/OPEC-Still-Overproducing-Scapegoats-US-Shale.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  15. #103
    Nigeria Politely Declines OPEC Invitation To Cap Oil Production

    http://www.zerohedge.com/news/2017-07-12/nigeria-politely-declines-opec-invitation-cap-production
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  16. #104
    OPEC Reports Rising Output, Sees Lower Demand For Its Oil In 2018

    http://oilprice.com/Latest-Energy-News/World-News/OPEC-Reports-Rising-Output-Sees-Lower-Demand-For-Its-Oil-In-2018.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  18. #105
    OPEC Dragging Feet On Capping Libya, Nigeria Oil Production

    http://oilprice.com/Latest-Energy-News/World-News/OPEC-Dragging-Feet-On-Capping-Libya-Nigeria-Oil-Production.html


    Oil Prices Hold Steady As U.S. Oil Rig Count Rises

    http://oilprice.com/Energy/Crude-Oil/Oil-Prices-Hold-Steady-As-US-Oil-Rig-Count-Rises.html


    Saudi Fuel Oil Demand Jumps While Global Consumption Drops

    http://oilprice.com/Latest-Energy-News/World-News/Saudi-Fuel-Oil-Demand-Jumps-While-Global-Consumption-Drops.html


    U.S. To Lease 76M Acres For Oil, Gas In Gulf Of Mexico

    http://oilprice.com/Latest-Energy-News/World-News/US-To-Lease-76M-Acres-For-Oil-Gas-In-Gulf-Of-Mexico.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  19. #106

    (Click to enlarge)
    World oil supply, total liquids, was up 660,000 bpd in June. This is huge. Oil prices will continue to drop if this continues.

    http://oilprice.com/Energy/Energy-Ge...s-Exports.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  20. #107
    US Shale Production Just Hit A New All Time High

    http://www.zerohedge.com/news/2017-07-17/us-shale-production-just-hit-new-all-time-high?utm_source=feedburner&utm_medium=feed&utm_cam paign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+fo r+everyone+drops+to+zero%29
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  21. #108
    OPEC Deal Splinters: Ecuador Will No Longer Comply With Production Quota Due To "Difficult Economic Situation"

    http://www.zerohedge.com/news/2017-07-17/opec-deal-splinters-ecuador-will-no-longer-comply-production-quota-due-difficult-eco
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  22. #109
    Oil Up As Saudis Consider Deeper Output Cuts

    http://oilprice.com/Energy/Energy-General/Oil-Up-As-Saudis-Consider-Deeper-Output-Cuts.html


    Kuwait: Oil Market To Balance By March, No Deeper Cuts Needed

    http://oilprice.com/Energy/Crude-Oil/Kuwait-Oil-Market-To-Balance-By-March-No-Deeper-Cuts-Needed.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  23. #110
    WTI Sinks After Surprise Crude Inventory Build

    http://www.zerohedge.com/news/2017-07-18/wti-sinks-after-surprise-crude-inventory-build
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  24. #111
    The Qatar Blockade Is Threatening The OPEC Deal

    http://oilprice.com/Geopolitics/International/The-Qatar-Blockade-Is-Threatening-The-OPEC-Deal.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  25. #112
    Why Oil Prices Can’t Gain Traction

    http://oilprice.com/Energy/Oil-Prices/Why-Oil-Prices-Cant-Gain-Traction.html


    Brazil Seeks To Lure Oil Investors With Lower Royalties

    http://oilprice.com/Latest-Energy-News/World-News/Brazil-Seeks-To-Lure-Oil-Investors-With-Lower-Royalties.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



  26. Remove this section of ads by registering.
  27. #113
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  28. #114
    Oil Prices Slip On Falling OPEC Compliance

    http://oilprice.com/Energy/Energy-General/Oil-Prices-Slip-On-Falling-OPEC-Compliance.html


    U.S. Oil Rig Count Falls By 1 As Canada Adds 15 Rigs

    http://oilprice.com/Energy/Crude-Oil/US-Oil-Rig-Count-Falls-By-1-As-Canada-Adds-15-Rigs.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  29. #115
    IMF: Saudi’s Oil GDP To Fall 2% On Back Of OPEC Cuts

    http://oilprice.com/Latest-Energy-News/World-News/IMF-Saudis-Oil-GDP-To-Fall-2-On-Back-Of-OPEC-Cuts.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  30. #116
    IMF Sees 2017 Saudi Growth ‘Close to Zero’ on Oil Prices, Cuts

    https://www.bloomberg.com/news/articles/2017-07-21/imf-sees-2017-saudi-growth-close-to-zero-on-oil-prices-cuts?utm_source=yahoo&utm_medium=bd&utm_campaign=h eadline&cmpId=yhoo.headline&yptr=yahoo
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  31. #117
    OPEC and company get desperate:

    Oil markets need regulator in face of speculators - Eni CEO


    Eni CEO Claudio Descalzi said OPEC and Saudi Arabia were not in a position to push prices higher by cutting output, adding that geopolitical tensions, growing U.S. shale oil production and heavy speculation in crude futures were hurting the sector.
    "The financial speculation is so strong that it has transformed even those with long term strategies into short term investors," Descalzi was quoted as saying.
    "Perhaps we should adopt in the oil sector the sort of regulations and market controls that were imposed on banks. Banks have a central watchdog, while in the past, our regulator was OPEC, which is no longer playing the role it once had."
    He said hedge fund speculators no longer believed that the Organization of the Petroleum Exporting Countries (OPEC) was in a position to introduce radical output cuts.
    Six OPEC and non-OPEC ministers are due to meet on Monday in St Petersburg to discuss the market outlook and review a global pact on reducing crude supplies that was agreed this year.
    Asked if he thought further cuts might be decided, Descalzi said: "I am not optimistic."

    https://finance.yahoo.com/news/oil-m...151317599.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  32. #118
    Saudi finance ministry says domestic sukuk program established

    Saudi Arabia's ministry of finance said on Sunday it had established a program to issue local currency Islamic bonds, as the government covers a large budget deficit caused by low oil prices. The ministry described the program as "unlimited" and said it would announce on a case-by-case basis details such as the types of eligible investors, the size of the issues and the expected profit rate.
    The program has been submitted to the Capital Market Authority, the ministry added without specifying when the first sukuk issue would take place.
    Saudi commercial bankers told Reuters they expected the first issue as soon as in the next few days and believed 10 billion riyals ($2.7 billion) would be offered, which the market could cope with easily since liquidity had improved since last year and investors had been preparing for the issue.

    More at: http://www.reuters.com/article/us-sa...-idUSKBN1A807A
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  33. #119
    OPEC’s No.2 Goes Rogue, Plans To Pump 5 Million Bpd

    http://oilprice.com/Energy/Crude-Oil/OPECs-No2-Goes-Rogue-Plans-To-Pump-5-Million-Bpd.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  34. #120
    Nigeria Ups Oil Output Despite Rampant Oil Theft

    http://oilprice.com/Energy/Crude-Oil/Nigeria-Ups-Oil-Output-Despite-Rampant-Oil-Theft.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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