Excess oil inventories to last until 2018 – IEA
Oil demand should outpace supply in the second half of this year but excess inventories will persist well into 2018, dealing a blow to global crude producers enacting output cuts to bring down stubbornly high stockpiles. The forecast from the International Energy Agency comes as higher than expected…
Xi Jinping’s Marco Polo Strategy
Last month, Chinese President Xi Jinping presided over a heavily orchestrated “Belt and Road” forum in Beijing. The two-day event attracted 29 heads of state, including Russia’s Vladimir Putin, and 1,200 delegates from over 100 countries. Xi called China’s Belt and Road Initiative (BRI) the “project…