10 Second Headline of the Week - Feb. 10, 2017
OIL AND GAS
- Oil inventories increased by 13.8 million barrels this week to 508.6 million barrels.
- OPEC achieved record initial compliance of 90% with their cuts agreement.
- Saudi Arabia, Angola and Qatar have also exceeded originally committed production cuts, with Saudi Arabia exceeding by 70 thousand barrels/day.
- International Energy Agency anticipates oil demand increasing 1.4 million barrels a day in 2017.
PRESIDENT TRUMP U.S.
- In contrast to President Trump, majority of investors in the U.S. see decent GDP growth, moderate inflation, and tolerable interest rates. (Source: Barron’s)
- President Trump is committed to fighting for the immigration ban.
- American Airlines Group Inc., United and Delta are pressuring the White House to denounce the U.S. Open Skies agreements because of unfair practices by Qatar, Etihad and Emirates airlines.
- Smaller U.S. carriers JetBlue, Atlas Air Wand Hawaiian Holdings Inc., and FedEx air cargo have banded together against the larger competitors.
PRESIDENT TRUMP GLOBAL
- Eight countries, including Canada, Finland, and Belgium, have joined together to counter President Trump’s global anti-abortion move.
- The President has agreed to respect the ‘One-China’ policy.
- Japan’s PM, Shinzo Abe, intends to propose economic plans to President Trump that could generate 700,000 U.S. jobs, investing in high-speed rail and power generation.
- Europe is concerned that President Trump will remove the U.S. troops from Eastern Europe as part of a bargain with Russia.
- Tesla Inc. will shut down production at its California assembly plant for a week to prepare for the production of its new Model 3 Sedan.
- China led new global wind-power installations last year with 23.3GW, compared to the U.S. in second place with 8.2GW.
- Report from University of Calgary calls for Alberta to have a time limit on more than 150,000 idle oil and gas wells.
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