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e, George Duke, Benny Green, Ron Carter and Rufus Reid. He also performed at the Warsaw Jazz Festival —
ult of the shale boom, WTI futures on the New York Mercantile Exchange remain at a discount of about $7 a barrel to their European counterpart, the Brent contract on ICE Futures Europe's London-based exchange. WTI was at $103.74 a barrel as of 4:13 p.m. London time. Islamist Insurgency. "The shale pr
te cycle than the US and due to valuations. Jim Reid, (44) 20 754 72943 Nick Burns, (44) 20 754 71970
hen modelled OPEC production of 32.4 mmb/d matches our calculated call on OPEC (i.e., the volume required from OPEC It o balance demand). Oil at a Brent price of USD45/bbl is below the 2016 national budget breakeven level for all of the ten countries assessed by our EMEA macro team, and also below t
e-taper tightrope (courtesy of DB credit guru Jim Reid). Overall demand for EM equities should be weake
re 70). Turkey along with India has the highest sensitivity to lower oil prices of any of the global equity markets in our view (Figure 71), so if Brent does finally move to a lower level in 2014, that would provide additional justification to overweight the market. Political factors have clearly e
Entities connected to both Harry Reid and Brent

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