On the other hand, this week Saudi Oil Minister Ali Al-Naimi will for the first time face the victims of his decision to keep oil pumps flowing despite a global glut: U.S. shale oil producers struggling to survive the worst price crash in years.
In my views, only when Saudi has 'settled with US' then there will be a chance of oil recovering. As of now, any oil rally is rather limited. For friends who are keen to invest in Oil, I suggest UWTI which is listed in US market and it's the most popular oil counter with liquidity and accessibility.
KEY HIGHLIGHTS
Update
Wilmar International (WIL SP/BUY/S$3.16/Target: S$3.60)
2016 likely to be another good year, driven by growth from oilseeds & grains and recovery in the other two segments.
At A Glance
Corporate
OUE: 2015 net profit falls 85.7% yoy on lack of one-off gain.
Sector
Aviation: Singapore Airshow racks up US$12.3b in deals.
Property: At least four Good-Class Bungalow (GCB) deals sealed since start of the year.
Economics
Trade: 4Q15 domestic wholesale trade shrinks 15.9% yoy.
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