Friday SWFI News Roundup, March 11, 2016
IEA Believes Global Oil Price May Have Bottomed Out
This is positive news for Gulf-based sovereign wealth funds. Paris-based International Energy Agency (IEA) revealed that they believe oil prices may already gone through their lowest point. They see a decrease in oil supply in ex-OPEC countries, while witnessing disruptions within OPEC affecting the global surplus. The press release states, “global oil supplies eased by 180,000 barrels per day in February, to 96.5 million barrels per day, on lower OPEC and non-OPEC output for March.”
State Street to Lose CFO
State Street Corporation announced that its Chief Financial Officer, Michael W. Bell will step down from his role within the next year. Bell will serve as CFO until the appointment of a successor.
Salam Air to be Backed by Domestic SWF
Oman’s first budget airline will use the name Salam Air. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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