Naira per USD

  The political stakes are rising fast for West African production, and especially in the two major states, Angola and Nigeria. One story is essentially succession based around President dos Santos in Luanda, where he’s making sure his own daughter, Isabel dos Santos cover his political / corruption tracks in Angola.  The other, is whether…

FX vs M2 under different scnearios

During the reign of the mighty petro-dollar standard, it was necessary for major oil exporters to recycle their dollar holdings back into the dollar-based financial system to maintain their self-imposed exchange rate pegs. US government bonds are the very centrepiece of this elaborate system and it is thus no surprise to see the dollar price…

Iran and Russia Oil Production

Another month, another OPEC meeting beckons for 2nd June. But unlike typical meetings on the Danube (let alone dust filled haze of Doha), the producer group might just have a new King in town. It comes in the form of Russia; the number one global producer that’s not even technically a member of the cartel….

Iran and Iraq Oil Production

As expected, PM Abadi was always going to come off worse in his last ditch attempt to try and regain some kind of political initiative by appointing a new look ‘technocratic’ government in Baghdad. But the ailing Prime Minister has managed to back himself into a particularly tight corner after being outplayed by Muqtada al…

RBL Stylized Example

Another month, another flight to Hamad international airport for 17th April after initial agreement to hold ‘upstream horses’ in February 2016. While it’s no doubt great fun getting back into the OPEC ‘masters of the oil universe’ routine, second time round, the stakes are rapidly rising in Doha given another supposed ‘freeze’ announcement would actually…