IEZ News and Press, iShares U.S. Oil Equipment & Services From 02/06/23

Summary U.S. November production decreased by 35 kb/d to 12,375 kb/d. Since the beginning of April 2021 through to the week ending July 29, 2022, the US added horizontal oil rigs at a rate of close to 3.82 rigs/wk, orange OLS line, and peaked at 551 rigs in the week ending July 29. ...

Summary As we head into the end of January, technical conditions in major stock indexes are showing a lot of strength. We think a bear market that could easily trim 50% from indexes is in the cards, but timing is everything. We find price action-driven measures more reliable than su...

Summary The stock market isn't worried about a recession because we are already in one. Consumer surveys continue to reflect the economic conditions, poor. Global Manufacturing PMIs stabilize but, for the most part, remain in contraction. The stock market is looking beyond the "...

Summary After a record-setting 2022, energy sector earnings are likely to generally decline in 2023, though forecasts point to another strong year by historical standards. Even with a year-over-year earnings decline, energy companies can continue to execute on free cash flow generation ...

Summary Energy was the best performing S&P 500 sector in 2022 but crude prices have fallen sharply thanks to concerns about an economic slowdown. Despite near-term challenges, we remain constructive on energy stocks thanks to constraints on supply and attractive valuations. The ...

Summary Markets often turn well before the economy and we are starting to see Global PMIs stabilize. Like many other indicators, the market's "Pros and Cons" keep investors guessing. Investors are in the "glass half full" mindset. Negatives are placed on the back shelf now. Sent...

Summary The US EIA Short Term Energy Outlook was published on January 10, 2023. I doubt Russian C+C output will fall as much as the EIA has forecast. The Canadian forecast looks much too high. A guest post by D Coyne The US EIA Short Term Energy Outlook (STEO) ...

Summary December was a mixed month for commodity index strategies overall. Natural gas was the strongest commodity for most index strategies. The precious metals sector was the strongest performing sector in December, rising over 5%. Natural Gas Contributes From Rebalance ...

Summary On a coincident basis, driven by a historically tight labour market and robust industrial production growth, the US economy remains deceptively strong despite negative real incomes and tight financial conditions. However, the leading indicators of the business cycle continue to ...

Summary Oil prices have kickstarted 2023 with their worst decline since 1991. With at least one-third of the global economy set to be in a recession this year, including the US, demand will continue to be suppressed. This could mitigate the expected demand boost from China. It a...