Epstein Secrets

regulated by the Financial Conduct Authority and the Prudential Regulation Authority under jaws in the United Kingdom; GSSP is regulat

November 2016 OPEC Meeting 12 m November 2016 Agreed Cut 1.0 0.8 0.6 0.4 0.2 0.0 -0.2 -0.4 ran raq Libya UAE Total Algeria Angola Ecuador Kuwait Nigeria Qatar Saudi Venezuela Data as of November 30, 2016. Source: Investment Strategy Group, Bloomberg, OPEC. Exhibit 97: US Energy Sector Ratio of Capit

f average global demand growth— they are largely a reversal of production growth seen over the last six months (see Exhibit 96). Meanwhile, Libya and Nigeria were excluded from these new OPEC quotas given sizable domestic disruptions that have depressed their production. Recent signs of improvement, howeve

obal oil consumption BofAML OPEC capacjty growth, 2015-2020F 105 Kuwait mn bpd fcast uwail 100 , Algeria 95 Qatar 90 Venezuela Angola 85 3 Ecuador 80 Nigeria 15 UAE 70 Libya 65 Iran Saudi Arabia 60 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 -0.3 -0.1 0.1 0.3 05 Source: IEA, BofA Merrill Lynch Commo

a (Pty) Ltd., regulated by The Financial Service Board; MLI (UK): Merrill Lynch International, regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merri

ments. --- PAGE BREAK --- Investment Management Central Bank Cryptocurrencies Could Substantially Reduce Fraud _ pivision “Say there’s a grant to Nigeria for health stuff—if it’s digital money, they can track that it was paid to a certain person and when it was paid out. Then you can audit later and sa

is regulated by the Hong Kong Securities and Futures Commission under Hong Kong laws; and GSI is regulated by the UK Financial Conduct Authority and Prudential Regulation Authority. Investment Risks. Risks vary by the type of investment. For example, investments that involve futures, equity swaps, and other derivatives, as well