Oil price slumps as OPEC holds firm

As we expected, OPEC kept its production target of 30m barrels/day (b/d) of crude oil steady at its six-monthly meeting on November 27th. With global oil markets oversupplied, benchmark oil prices slumped on the news. Brent, the international crude grade, fell from…

China – Has monetary policy shifted?

The People’s Bank of China (PBC, the central bank) surprisingly cut benchmark interests rates on November 21st. This has generated speculation that further monetary policy easing will follow, as the authorities seek to ward off deflationary pressures and stimulate economic growth.…

Regional rivalries deepen divide in Libya

EIU: The entrenchment of both sides in Libya’s low-level civil conflict would not have been possible without considerable outside support for each faction. The two major groupings—the official government based in Al Bayda in eastern Libya and the Libya Dawn…