OILX News and Press, UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B From 06/06/23

2023-06-06 17:32:43 ET Summary Over the weekend, Saudi Arabia announced voluntary cuts of 1 million barrels per day for a month in an attempt to raise oil prices. This comes after previous OPEC+ cuts in March. US oil consumption is declining due to factors such as increased en...

2023-06-06 06:20:00 ET Summary The new AI world is for real but beware of some of these recent price run-ups. It is normal to see a 50% retracement of any sharp price increases. The OPEC+ meeting on June 4th could be pivotal, even though no big news came out of it. Russia has been...

2023-06-05 17:22:57 ET Summary Saudi Arabia announced voluntary cuts of 1.5 million barrels per day in oil production, potentially raising crude oil prices and impacting global markets. The cuts aim to control market volatility, boost oil export profits, and reduce excess global i...

2023-06-05 14:37:00 ET Summary It hasn't been an easy OPEC+ meeting for members. The group failed to come to an agreement on deeper cuts, but production targets have been set for 2024 and voluntary cuts were extended. The Saudis have also decided to make further voluntary cuts...

2023-06-05 07:00:33 ET Summary Energy investors have endured significant volatility over the past two months as China's economic recovery has fizzled out. Saudi Arabia decided to cut its production, demonstrating its commitment to defend oil prices from falling further, lending st...

2023-06-05 04:39:00 ET Summary U.S. March oil production increased by 171 kb/d to 12,696 kb/d, a new post-pandemic high. On a YoY basis, US production increased by 995 kb/d with the majority, 778 kb/d having come from Texas and New Mexico. The May DPR production report is esse...

2023-05-31 02:17:00 ET Summary Several new forces may soon combine to push our energy stocks higher. There is a tremendous amount of cash on the sidelines, which could pour into the stock market and spark a major market rally at any unknown day or hour, as soon as there is a signi...

2023-05-31 02:15:00 ET Summary I am decreasing my May forecast by $5 per barrel for West Texas Intermediate oil to range between $65 and $85 per barrel. Expected stronger prices in May. The prices weakened because of numerous factors. The debt ceiling issue ought likely to be ...

2023-05-27 01:50:00 ET Summary The EIA’s Short-Term Energy Outlook (STEO) was published in early May. The report that follows compares World Petroleum Liquids output from the STEO with estimates from OPEC’s Monthly Oil Market Report (MOMR) from May and the IEA’...

2023-05-26 22:40:00 ET Summary It’s been a rough year or so for energy, but let’s not forget the significant headwinds prevailing for oil prices in recent times. Following OPEC’s surprise production cut in April, hedge funds and the like have once again resume...