OILU News and Press, ProShares UltraPro 3x Crude Oil From 12/06/19

Original post By Stuart Burns Conventional wisdom has suggested we are headed for a significant oil surplus next year, with some commentators talking about a glut. Even respected industry publications like OilPrice.com headlined "IEA Warns Of A Looming Oil Glut Ahead Of OPEC Meet...

Crude oil ( USO +1.1% ) continues to climb after Russian energy minister Novak said OPEC+ is discussing a larger than expected 500K bbl/day production cut , greater than the 400K-barrel reduction speculated ahead of this week's meeting. More news on: The United States Oil ETF, LP, Ene...

Nigeria seems fully committed to the implementation of its quota as agreed with OPEC+. According to the country's minister for state of petroleum, Nigeria's compliance has improved since August. Production of crude stood close to 1.8 million b/d in October, much lower than the 1.96 million b/d...

Reports out of Vienna suggest OPEC and its allies led by Russia are discussing increasing current cuts of 1.2M barrels per day by more than 400K bpd, as well as extending their agreement from March, to June or later. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil...

Introduction In a recent article, we discussed the possibility that Saudi Arabia-KSA, the defacto leader of OPEC, might just be tired of " doing most of the heavy lifting " when it comes to production cuts. Particularly, when other members are flouting their obligations and overproducing. It...

Saudi Arabia is threatening to increase oil production unilaterally if some OPEC nations continue to defy existing output cuts, WSJ reports, citing cartel officials. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long...

Crude oil ( USO +3.4% ) powers higher amid optimism that the OPEC+ group could approve deeper production cuts when they meet in Vienna this week, with further support from industry data showing a larger than forecast drop in U.S. crude stockpiles. More news on: The United States Oil ...

The American Petroleum Institute reportedly shows a draw of 3.72M barrels of oil for the week ending Nov. 29. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long Crude Oil ETN, Energy stocks news, Commodities news, News...

The S&P energy sector ( XLE +0.3% ) is bucking the downward slide in the broader market as January WTI crude oil +1.6% to $56.05/bbl, topping its 50-day moving average of $55.59/bbl. More news on: Energy Select Sector SPDR ETF, Marathon Oil Corporation, Cimarex Energy Co., Energy...

This is a guest post by Ovi. All of the oil production data for the states comes from the EIAʼs Petroleum Supply Monthly . The charts below are updated to September 2019 for the largest US oil-producing states (>100 kb/d). There continues to be much speculation and informati...