Mexican Senate committees are set today to discuss a bill to end the nation’s seven-decade oil monopoly and open the energy industry to more foreign investment in a bid to reverse declining crude production.
Iran’s announcement yesterday that it expects to increase oil exports and discuss new deals with energy companies is the latest salvo in a debate over easing economic sanctions on the Islamic Republic.
Canada’s bid to become what Prime Minister Stephen Harper calls an energy “superpower” is at risk as approval delays for new pipelines threaten an industry already hurt by high costs and rival production.
Mexican peso implied volatility rose to a two-week high as an acceleration in U.S. manufacturing stoked concern the Federal Reserve will cut a stimulus program that has buoyed the Latin American country’s securities.
Crude traders are skeptical that the accord loosening some economic sanctions against Iran in return for limiting nuclear work will lead to a surge in oil supply from what was once OPEC’s second-biggest producer.
Slower growth in consumer debt and a cooler housing market will allow the Bank of Canada to wait until early 2015 to raise interest rates as it waits for a pick- up in exports, the International Monetary Fund said.
The Mexican peso’s implied volatility rose to a two-week high amid mounting concern the Federal Reserve will soon reduce record U.S. stimulus that has fueled demand for the Latin American country’s debt.