Home / Tag Archives: world

Tag Archives: world

World awash with oil as record 3 billion barrels stockpiled — and it’s only getting worse, IEA says


The world is awash with oil having built record stockpiles of almost 3 billion barrels in recent months and slowing demand growth combined with resilient non-OPEC supply could worsen the glut well into next year, the International Energy Agency (IEA) said on Friday. How OPEC has earned itself a permanent …

Read More »

AGF enters world of ETFs with purchase of Boston-based FFCM


A few weeks back CI Financial made its first steps into the world of exchange traded funds when it acquired First Asset Capital Corp., a firm with about $3 billion under management, half of which were in ETFs. Tuesday AGF Management Limited announced that it acquired the majority of the …

Read More »

In post-OPEC world, companies look outside Alberta to greener pastures


As oil prices continue to slide in search for a market-set equilibrium in a post-OPEC world, companies such as Husky Energy Inc. are remaking themselves to withstand the new environment for as long as it takes, while squeezing every advantage they can get. And if that means looking to greener …

Read More »

World’s worst carry trade found in Brazil as 2016 outlook dims


Investors who bet on Brazil’s local bonds this year were saddled with the biggest losses among major economies. The outlook for 2016 isn’t much better. Borrowing dollars at the end of 2014 and buying reais, a practice known as the carry trade, left investors with losses of 22 per cent …

Read More »

Canadian crude — the world’s cheapest oil — falls to record low as slump deepens


A deepening oil market slump is adding fresh pain for producers of the world’s cheapest crude as the Canadian heavy grade reached a record low, raising the prospect of more production coming offline. Spot prices for Western Canadian Select fell to US$19.81 a barrel on Wednesday, the lowest since tracking …

Read More »

Saudi Arabia considers bringing world’s biggest oil company Aramco to market: report


CALGARY  • The Kingdom of Saudi Arabia is reportedly considering selling shares in its crown jewel: its state-owned oil-producing company Saudi Aramco. The kingdom’s deputy crown prince Muhammad bin Salman said in an interview with The Economist published Thursday that a sale of shares in Saudi Aramco is “something that is …

Read More »

Saudi Arabia’s Aramco may be world’s most valuable company — but it comes with a lot of baggage


ANALYSIS It may be the worst time for an oil and gas company to seek a public listing, but the world’s largest oil producer is contemplating just such a move. Saudi Arabian Oil Co., or Saudi Aramco, confirmed Friday it’s studying “various options” to list “an appropriate percentage” of the …

Read More »

Richest 1% are now wealthier than the rest of the world combined, Oxfam Says


DAVOS, Switzerland — Politicians and business leaders gathering in the Swiss Alps this week face an increasingly divided world, with the poor falling further behind the super-rich and political fissures in the United States, Europe and the Middle East running deeper than at any time in decades. Just 62 people, …

Read More »

IEA sees world ‘drowning in oil,’ sending crude prices even lower


Global oil markets could “drown in oversupply,” sending prices even lower as demand growth slows and Iran revives exports with the end of sanctions, according to the International Energy Agency. The IEA trimmed 2016 estimates for global oil demand as China’s economic expansion weakens and raised forecasts for supplies outside …

Read More »

Canada is flirting with a bizarro world of negative interest rates


When the European Central Bank meets in March, markets anticipate that it will cut its already negative deposit rate further, deepening Europe’s multi-year experiment with sub-zero interest rates, which began in June 2014. ‘Ocean of fear’: Canadian investors sitting on record cash pile risk billions in lost returns A new …

Read More »