November 2018

IMF - Australia’s recent strong growth is expected to continue in the near term, further reducing slack in the economy and leading the way to gradual upward pressure on wages and prices.

IMF - Britain's growth is projected to remain around 1½ percent going forward, under a baseline scenario that assumes a smooth transition to a broad free trade agreement with the EU.

IMF - Some of the negative effects of the changing external environment are already being felt in South Africa despite its economic resilience.

BHGE - U.S. Rig Count is down 3 rigs from last week to 1,079, with oil rigs down 3 to 885 and gas rigs unchanged at 194. Canada Rig Count is up 7 rigs from last week to 204, with oil rigs up 6 to 124 and gas rigs up 1 to 80.

REUTERS - Front-month Brent crude oil futures were at $67.41 per barrel at 0746 GMT, up 65 cents, or 1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures, were up 76 cents, or 1.4 percent, at $57.22 per barrel.

МИНЭНЕРГО РОССИИ - Глава Минэнерго России подчеркнул, что проект «Турецкий поток» является одним из крупнейших и, по сути, знаковых экономических проектов между Россией и Турцией и носит стратегический характер.

BLOOMBERG - The $11 billion pipeline is one of three giant projects helping the world’s biggest gas producer strengthen its grip on Europe and Asia. Thousands of miles to the east, the Power of Siberia pipeline will connect with China, and a project under the Black Sea will deliver fuel to Turkey and southeast Europe.

NGW - Although US secondary sanctions against Iran’s petroleum sector resumed on November 5, Russia will most likely defy them by continuing to invest in Iran’s natural gas sector. Russia may also seek to influence the flow of Iran’s natural gas into the European market, where it could undermine Russia’s political-economic interests if not coordinated with Moscow.

U.S. API - U.S. petroleum demand in October of 20.8 million barrels per day (mb/d) was the strongest for the month since 2006 and a continued reflection of solid economic activity.

REUTERS - Next-day natural gas prices for Friday at the Sumas hub on the border between Washington state and British Columbia quadrupled to a record high on forecasts for cooler, near-normal weather in the Pacific Northwest and declining pipeline flows from Canada.