OIL News and Press, iPath Series B S&P GSCI Crude Oil From 05/18/23

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, May 18, 2023 (GLOBE NEWSWIRE) -- Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCF) (" Permex " or the " Company "), is pleased to announce the implementation of a...

2023-04-27 15:53:40 ET Summary Insiders have been buying shares at three oil & gas companies lately. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. Investors who can stomach the short-term volatility and t...

2023-04-25 17:55:53 ET Summary Energy prices are now pushing inflation downwards. General equities look risky while energy stocks are oversold. Callon Petroleum appears very cheap. I believe the market narrative still has it wrong. The belief is that inflation will c...

2023-04-20 15:26:11 ET Summary Oil prices are failing to gain any additional traction post-OPEC+'s surprise cut announcement. Fundamentally, April oil market balances only show a minor deficit. The rubber still needs to meet the road, so the market continues to wait. In the me...

2023-04-05 16:47:56 ET Summary The oil market has figured out the price at which oil demand starts to rebound. This sets up an asymmetric upside scenario similar to the asymmetric downside scenario we saw in June 2022. If U.S. oil demand continues to improve, then the market w...

2023-04-05 00:18:19 ET Summary OPEC+ decided to cut oil production starting in May by 1.16 million barrels per day. This cut should last through the rest of the year and it seems to solve the disparity that existed between OPEC and the EIA. The move higher is warranted, and in...

2023-04-04 11:58:17 ET Summary OPEC shocked the markets on Sunday with its surprise announcement of 1.16 million barrels per day production cuts plus another 500,000 barrels from Russia. The motivation isn't fully clear but one explanation is that OPEC wants a more stable price en...

2023-04-02 19:32:10 ET Summary OPEC+ shocked markets by announcing a surprise cut of nearly 1.2 million barrels per day. The motive? Profit. While paying lip service to recession risk, the move is designed to restrict the supply of oil before the busy summer travel season. Thi...

2023-03-22 18:19:47 ET Summary There has been a lot written about the relatively large drawdown of the U.S. Strategic Petroleum Reserve ("SPR") - much of it highly critical of the Biden administration. The drawdown has been very large - no doubt about that. However, along with coo...

2023-03-22 05:55:00 ET Summary The outlook for energy enters a new period, with a floor of demand and potentially tight supply. From an investor conference as the SVB crisis unfolded, a set of investors liked real estate and infrastructure, alongside old industry. From Houston...