XOP News and Press, SPDR S&P Oil & Gas Explor & Product From 04/05/23

2023-04-05 03:44:00 ET Summary U.S. oil production increased by 437 kb/d to 12,462 kb/d, a post-pandemic high. From 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 3.76 rigs/wk and peaked at 551 rigs in t...

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 23:57:43 ET Summary This article completes the article published last Friday that forecast higher prices for both crude oil and the energy sector. In this article, we investigate which of the 25 largest energy sector ETFs is best correlated to the price of oil and there...

2023-04-03 15:55:48 ET Energy ( NYSEARCA: XLE ) is the overwhelming leader on Monday's S&P 500 sector leaderboard, +4.6% , with crude oil spiking after Saudi Arabia and other OPEC+ producers unveiled a surprise decision to cut production by a combined 1.16M bbl/day. ...

2023-04-03 08:30:04 ET Energy stocks are rallying in European trading Monday following OPEC's surprise production cut announced over the weekend, with BP ( NYSE: BP ) +5.2% , TotalEnergies ( TTE ) +5.1% and Shell ( SHEL ) +4.9% in London. Oil and ga...

2023-04-02 19:53:15 ET Crude oil prices jumped more than $5/bbl as trading opened, responding to Sunday's surprise oil production cut across several OPEC+ nations. U.S. WTI crude ( CL1:COM ) surged past $81/bbl at the open to its highest since late January, with the May cont...

2023-04-02 17:05:27 ET Major oil producers in the OPEC+ group announced a surprise addition to production cuts Sunday. Saudi Arabia, the top producer in the group that includes Russia, will cut 500K barrels per day. The total new cuts are about 1.16 bpd, bringing total cuts includ...

2023-04-01 17:00:00 ET Stock Traders Daily has produced this trading report using a proprietary method.  This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...

2023-04-01 08:25:00 ET Summary Factors are the primary market drivers of asset-class returns. The year 2022 was a memorable one for investors, but for not altogether positive reasons. One bright spot, however, was the relative outperformance of equity risk factors versus other pop...

2023-04-01 00:54:12 ET Summary The energy sector's been in a high level consolidation for almost a year and has, so far, avoided the bear market. However, this consolidation phase seems to be ending. Oil appears ready to move higher. After trending down for a year, the latest comm...