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What the OPEC standoff means for oil prices and financial markets

What the OPEC standoff means for oil prices and financial markets

Joe Klamar/Agence France-Presse/Getty Images

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A standoff between Saudi Arabia and the United Arab Emirates has investors once again questioning the future of the Organization of the Petroleum Exporting Countries, or OPEC, while weighing implications for crude oil and financial markets.

Oil prices whipsawed Tuesday, hitting six-year highs before pulling back sharply, as traders weighed whether the stalemate over a call to further relax output curbs would keep crude off the market or spark a production free-for-all.

OPEC’s obituary has been written before, so talk of the cartel’s demise should be taken with a grain of salt. But there’s no doubt the organization faces a significant challenge as one of its key members, the U.A.E., attempts to assert its own influence.

What happened?

The Organization of the Petroleum Exporting Countries and its allies, including Russia, in approved a plan that cut oil production by 10 million barrels a day. They’ve slowly restored a chunk of that output as demand has picked up, leaving curbs of around 5.8 million barrels a day in place.

The group appeared on track last week to approve a proposal that would further ease existing crude oil output curbs by an additional 400,000 chatib online barrels a day each month from August through December – adding another 2 million barrels a day of production by the end of the year. The proposal also called for delaying the expiration of the underlying agreement on supply cuts from .

The U.A.E. Read more

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Incidence of chlamydial and gonococcal problems, by anatomic web site of disease, among gay and bisexual guys observed in 2 clinical setup

Incidence of chlamydial and gonococcal problems, by anatomic web site of disease, among gay and bisexual guys observed in 2 clinical setup

Prevalence of chlamydial and gonococcal infections, by anatomic site of issues, among homosexual and bisexual people seen in 2 medical settings (an intimately transmitted illnesses clinic [STD] and a gay men’s health center), bay area, Ca, 2003.

We analyzed infection updates by anatomic webpages and also by HIV reputation among males observed on https://besthookupwebsites.org/chatib-review/ STD clinic. (there are inadequate facts on HIV condition through the GMHC.) Among 290 men with rectal chlamydia, 164 (56.6per cent) comprise HIV negative or got unidentified HIV standing, since has also been the actual situation for 139 (56.5%) of 246 males with rectal gonorrhea. By comparison, among 291 males with urethral chlamydia, 232 (79.7percent) happened to be HIV bad or got as yet not known HIV updates, since has also been the way it is for 227 (65.6%) of 346 guys with urethral gonorrhea. Read more