OILX News and Press, UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B From 06/21/23

2023-06-21 03:20:00 ET Summary Both major US monthly inflation reports out last week reflected even lower rates than most pundits had expected. Following the two inflation reports and other indicators, the Fed decided to pause hiking key interest rates further, but the “dot...

2023-06-19 02:49:00 ET Summary OPEC crude output was revised lower in April 2023 by 74 kb/d compared to last month’s report and March 2023 OPEC crude output was revised lower by 21 kb/d. Preliminary data indicates that global liquids production in May decreased by 1.02 mb/d...

2023-06-15 16:30:00 ET Summary China’s disappointing recovery following the COVID-19 reopening this spring has been the major reason for the declining commodities markets in May. The UBS Constant Maturity Commodity Index declined 5.78% and the Bloomberg Commodity Index decl...

2023-06-15 01:08:00 ET Summary Among all the fossil fuels we consume, oil is the most crucial due to its ubiquity in nearly every consumer product that's manufactured, transported, or sold. Today, the International Energy Agency predicts that oil consumption will increase by 2 mil...

2023-06-13 05:30:00 ET Summary The annual Russell Reconstitution has caused many small-cap stocks to surge, and institutional buying pressure is anticipated to filter down from the eight largest NASDAQ companies that have been hogging most of the money. Rising crude oil output in ...

2023-06-12 20:56:00 ET Summary World crude oil and condensate (C+C) production increased by 524,000 barrels per day in February 2023, reaching a post-pandemic high. OPEC+ produced 58% of world oil C+C production in February 2023, while non-OPEC+ nations produced 42%. The futur...

2023-06-11 09:45:00 ET Summary The Fed’s anti-inflation fight has been helped by the fall in oil and energy pricing. We think most of the benefit of the oil price decline is behind us. Furthermore, the strategic outlook is for higher, not lower, oil prices. Though, we c...

2023-06-10 01:10:00 ET Summary Can a Saudi production cut offset weak oil demand concerns? Oil's macro picture may be telling a different story than the micro. Why oil's supply and demand imbalances remain? Oil prices have been mixed as traders weigh Saudi Ar...

2023-06-09 03:30:00 ET Summary This week’s price action has been largely contained when you look across the major FX pairs, gold, and indices, although some big moves have been observed in some emerging market currencies (not least the Turkish lira). Among the majors, the A...

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...