OLEM News and Press, Barclays Bank PLC ZC SP ETN REDEEM 18/04/2041 USD 50 - 06740P221 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 A truly exceptional year, 2022 was dominated by historically high inflation, sharply rising interest rates and a surge in bond yields. With inflation now peaking and labor markets cooling, the environment enables central banks to slow and potentially pause interest-rate hikes. ...

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 rise in the volume of U.S crude oil looks set to partially offset any decline in Russian crude oil that is sold into the region. U.S. crude accounts for around 12% of EU refinery processing volumes. European refiners have processed greater volumes of WTI-linked crudes in...

Summary We continue to hold our overweight defense-aerospace position in the US Equity ETF portfolio. We have increased our position exposure to the domestic US oil sector with two selected ETFs. I think that oil prices are headed higher or staying in the range of high $70s or $80s....

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 The Biden Administration has stopped releasing one million barrels per day of light sweet crude oil from the Strategic Petroleum Reserve, so crude oil prices are expected to meander higher, despite a domestic glut of crude oil. Natural gas is more weather-dependent, but I expect...

Summary I am forecasting that West Texas Intermediate oil will range between $70 to $90 per barrel during February. Even though flight activity looks healthy, we should continue to monitor China’s reopening to confirm that it remains healthy. When there is a strong risk-off p...

Summary When I think about the lessons learned from 2022, I think the biggest lesson is valuations matter. I do think this is the most predicted recession that I've ever seen, certainly, in my career. Investors of all stripes, whether you're an asset allocator or a stock picker, I t...

Summary OPEC crude output was revised lower in October 2022 by 12 kb/d compared to last month’s report and November 2022 OPEC crude output was revised higher by 53 kb/d. OPEC output has increased by 1088 kb/d since December 2021, from 27883 kb/d to 28971 kb/d in December 2022. ...