AWARDS

Saudi Arabia raised its crude output to 10.3 million barrels a day in March, its oil minister Ali al-Naimi said, signaling an unexpected strong demand from its customers.

Mr. Naimi did not give a reason for the increase in output, according to the official Saudi News Agency.

The Kingdom's previous record peak was 10.2 million barrels a day in August 2013. It told the Organization of the Petroleum Exporting Countries that it produced 9.64 million barrels a day in February.

Mr. Naimi said that the kingdom's production will continue at around 10 million barrels a day, signaling that his country is determined to ride out the price slide without making any output cut.

"In terms of petroleum, I expect that prices will improve in the near future, that the Kingdom's production will continue at approximately 10 million barrels per day," Mr. Naimi said in a speech at an energy event in Riyadh.

Saudi Arabia is willing to participate in restoring market stability and steering prices back up, but it can only do so with participation from major oil-producing countries inside and outside OPEC, he said.

"The burden cannot be borne by Saudi Arabia, the GCC [Gulf Cooperation Countries], or OPEC countries, alone," he said.

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Less than two months after YouTube rolled out a new standalone app aimed squarely at kids, the Google-owned video platform is now facing the wrath of consumer- and children’s advocacy groups in the U.S.

The groups, which include the Center for Digital Democracy, the American Academy of Child and Adolescent Psychiatry, Campaign for a Commercial-Free Childhood, the Center for Science in the Public Interest, Children Now, and the Consumer Federation of America, are filing a complaint with the Federal Trade Commission (FTC) today, arguing that the ad-supported videos aren’t being held to the same stringent standards as adverts on T.V.

With the launch of YouTube Kids on iOS and Android back in February, Google promised a highly-filtered video-streaming experience for children and parents — no adult-centric content, and nothing that could be inappropriate for young eyes. However, many early critics were quick to point out that the very fact there are ads and product-placements carefully intertwined with entertainment and educational content made the app not appropriate for children, as they often can’t differentiate between ads, and entertainment/education.

Much of Google’s business is built on advertising, so the fact that it does include adverts within the YouTube Kids app isn’t that surprising in itself. Plus, the fact that there isn’t a blanket ban of targeting adverts at kids, may initially suggest that the groups’ complaint may fall at the first hurdle. However, the specific focus is expected to be on the regulation disparity between T.V. and Internet, with the former adhering to much stricter guidelines.

Moreover, specific reference will be given to key ads it argues goes against Google’s own policies. In the Internet giant’s YouTube Kids advertising policy, it bans a slew of categories, including politics, religion, dating or relationship, and — importantly — food and beverage. It say specifically: “Products related to consumable food and drinks are prohibited, regardless of nutrition content.”

Yet, YouTube Kids has videos from McDonald’s, including a 7-minute broadcast “dispelling myths about the contents of Chicken McNuggets,” according to the Washington Post. It also markets its popular Big Mac burger, saying “You can’t get juiciness like this from soy or quinoa.”

“They are mixing entertainment and advertising in ways that have already been ruled unfair and deceptive to children,” explains Dale Kunkel, professor of communication at the University of Arizona, in the New York Times. “It is just that the precedent is in television, not digital media.”

In short, the crux of the complaint is how Google mixes advertising in with its entertainment and education programs, and YouTube should be held to the same standards as T.V.

If the complaints will become something serious, the stock may suffer as a result.

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Crude-oil futures rebounded on Monday as investors assessed the impact of last week’s disappointing U.S. jobs data and Iranian nuclear deal.

The greenback had weakened after Friday’s weaker-than-expected U.S. jobs data as investors delayed expectations of an increase in the U.S. Federal Reserve’s key interest rate. A stronger dollar on the back of higher rate expectations has weighed on commodities prices in recent weeks.

Oil markets were closed on Friday, but oil prices had fallen sharply in electronic trade after reports of a framework Iranian nuclear deal raised concerns of more Iranian crude supply.

However, oil prices have since recovered with analysts largely estimating that Iranian crude exports could take several months to ramp up significantly.

“Even if a final deal is reached, we do not expect any physical market impact before 2016,” Adam Longson, head of oil research at Morgan Stanley, said in a report.

He said if sanctions are lifted, Iran’s oil exports may increase by only 500,000-700,000 barrels a day given the underinvestment in Iran’s oil sector, while around 30 million barrels of floating storage could also come to market.

Over the weekend, Saudi Arabia raised its official crude oil selling price for Asian buyers for May lifting on the back of strong refining margins in the region and a strong Dubai crude price benchmark, Singapore-based traders said.

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03

Apr

As in every first Friday of the month, today there's the NFP announcement.

What is it? It checks the change in the number of employed people during the previous month, excluding the farming industry.

Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? May 8th at 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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