{"id":621543,"date":"2018-11-12T04:35:11","date_gmt":"2018-11-12T04:35:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/12\/what-were-tracking-on-12-november-2018-dana-rohrabacher-oil-production-cuts-active-fund-managers-and-saudi-miscellany\/"},"modified":"2018-11-12T04:35:11","modified_gmt":"2018-11-12T04:35:11","slug":"what-were-tracking-on-12-november-2018-dana-rohrabacher-oil-production-cuts-active-fund-managers-and-saudi-miscellany","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/12\/what-were-tracking-on-12-november-2018-dana-rohrabacher-oil-production-cuts-active-fund-managers-and-saudi-miscellany\/","title":{"rendered":"What we\u2019re tracking on 12 November 2018: Dana Rohrabacher, oil production cuts, active fund managers and Saudi miscellany"},"content":{"rendered":"

One of Egypt\u2019s <\/strong>best friends<\/strong><\/a> in Congress has lost his re-election bid. <\/strong>Rep. Dana Rohrabacher, the long-serving Republican from California, has narrowly lost his bid to stay in office<\/a>. Rohrabacher penned a late 2016 letter<\/a> declaring that President Abdel Fattah El Sisi a friend of the United States and a \u201cdefender of all the good things that we believe in\u201d and calling Egypt a \u201cpartner for peace.\u201d<\/p>\n

The Middle East Solar Industry Association (MESIA) <\/strong>Solar Energy Trade Mission<\/strong><\/a>runs today and tomorrow at the Marriott in Zamalek. The gathering will look at the state of renewables and cleantech in Egypt.<\/p>\n

A Libyan peace conference gets underway this morning <\/strong>in Italy, aiming to \u201cpush forward a new UN plan to stabilize the troubled North African country after a initiative to hold elections next month failed,\u201d Reuters<\/a> said. There was no word at dispatch time on whether Gen. Haftar Khalifa, the Egypt- and UAE-backed military commander whose forces control much of the east, planned to attend.<\/p>\n

Saudi and Russia are at odds over production cuts: <\/strong>Two of the world\u2019s largest crude producers are at odds over what the market looks like heading into 2019. Saudi Arabia is leading OPEC toward a production cut<\/a>, pledging to slash its production by as much as 500k barrels a day in December, but Russia isn\u2019t on board<\/a>, arguing that any slack in supply is \u201cshort term.\u201d Saudi Arabia is pushing OPEC and its allies to slash output by up to 1 mn barrels<\/a>, and Oman Oil Minister Mohammed bin Hamed al-Rumhi said on Sunday that a majority of OPEC and other oil exporters would back the move<\/a>. Russia has for the past two years moved in lock step with Saudi<\/a> on production targets. Oil is now in a bear market<\/strong>, trading down more than 20% from the four-year high it hit just a month ago.<\/p>\n

Can active fund managers recover after a disappointing October<\/strong>, the Financial Times<\/a>\u2019 Market Questions column wonders. Active managers have \u201clong argued that a return to market volatility would renew their appeal\u201d and are now \u201clooking for fresh excuses after delivering disappointing returns in October when the Vix index \u2014 Wall Street\u2019s fear gauge \u2014 rose sharply,\u201d the salmon-colored paper write. US large-cap active managers posted their worst monthly results since September 2011.<\/strong><\/p>\n

In Saudi-themed miscellany this morning:<\/strong><\/p>\n