Business News

OPEC may Ramp Up Production

Mid Oregon Credit Union has acquired Bend-based High Desert Bank. High Desert Bank opened 2007. Its five employees have been offered jobs at Mid Oregon. Mid Oregon has seven branches in Central Oregon. (Bulletin)

OPEC may ramp up production. OPEC and Russia meet today in Vienna amid speculation that Saudi Arabia will get its 600K barrel/day output increase. Though likely, disagreement among several key members and the inability of secondary players to reach production targets introduce uncertainty. We see countervailing forces keeping oil prices largely range-bound near current levels, but strong global demand, geopolitics, and U.S. infrastructure bottlenecks offer the potential for a reversal of recent weakness. (LPL)

Foreign stocks getting cheaper. Recent underperformance by international stocks has helped those stocks get cheaper. On a forward price-to-earnings basis, the price-to-earnings multiple on the MSCI EAFE (developed international benchmark) has dropped from 15 to 13.7 this year. However, stronger earnings in the U.S. have led to a bigger drop in U.S. stock valuations, from 18.2 to 16.5. (LPL)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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