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    IEA predict U.S. will account for most of world oil’s output growth over next decade

    IEA predict U.S. will account for most of world oil’s output growth over next decade

    Nov 2017

    The International Energy Agency (“IEA”) has said it expects the U.S to account for more than 80% of global oil production growth over the next 10 years and to produce 30% more gas than Russia in the same period. Speaking at ‘COP-23’ the UN Convention’s on climate change, taking place in Bonn, Germany, IEA head Fatih Birol, said the United States, whose upstream energy industry has seen a resurgence with the development of fracking technology, would become the “undisputed leader of oil and gas production worldwide” and that “this has implications for the oil markets, prices, trade flows, investment trends and the geopolitics of energy,” He said the IEA expected oil markets to rebalance in 2018 if oil demand remained “more or less” as robust as it was now and if the Organization of the Petroleum Exporting Countries (“OPEC”) and its allies extended output cuts.
    London Metal Exchange sets out strategic pathway to drive growth

    London Metal Exchange sets out strategic pathway to drive growth

    Oct 2017

    The London Metal Exchange and LME Clear (together, “LME”) have set out their strategic pathway in response to its users views on its discussion paper on market structure. As part of its strategic pathway the LME has identified matters for immediate action as well as matter for development in the longer term. Among the matters for immediate action, the LME will reduce carry fees and intends to introduce a new financial over the counter OTC fee with effect from 1 January 2018 to ensure fairness in LME fee structures.
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