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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
Turkish President Recep Erdogan has announced a major oil reserve discovery 13 days out from the May 14 Turkish general election.
- Erdogan tweeted: "We discovered a new oil reserve in Cudi-Gabar with a production capacity of 100,000 barrels per day. Good luck to our nation."
- Erdogan said today at a rally in Konya province: "We are working hard to emancipate Türkiye from external dependency on energy."
- Ragip Soylu at Middle East Eye tweets: "I do find the timing suspicious but still believe the oil is very likely there. Same suspicions were raised about the Black Sea gas now we have CHP MPs proudly talking about it."
- Betting markets see opposition candidate Kemal Kilicdaroglu as slight favourite to take the presidency. According to Smarkets, Kilicdaroglu has a 58% implied probability of winning, compared to Erdogan's 47%.
Figure 1: Turkey General Election Winner (Smarkets)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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