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Summary May Non-OPEC production decreased by 148 kb/d to 48,834 kb/d. World oil production in May decreased by 638 kb/d to 78,947 kb/d according to the EIA. The supply-demand situation for 2023 is expected to be very tight with February 2023 showing a shortage of over 2,000 kb...
Summary The main economic data release for the trading week is the US inflation report. The UK economy is in a precarious position and facing a recession. Chinese President Xi is expected to meet with Russian President Putin at the Shanghai Cooperation Organisation summit in U...
Summary VLCC tonne-miles increased by 4.8% on month and 6.8% on year. This has been the highest employment achieved so far this year. Laden VLCCs now represent more than 45% of the total fleet globally, an unprecedented level since since early H2 2020. The outlook for winter d...
Summary Crude oil prices are an excellent measure of consumer engagement and activity worldwide. While crude oil contracts, alternative energy sources may experience a rising price cycle. The collapse in the financial markets broke consumer expectations and spending habits as ...
Summary Russia’s Gazprom stated that it had identified a defect in the last working turbine of the Nord Stream gas pipeline that carries Russian gas under the Baltic Sea to Germany. It’s not just a difficult winter that lies ahead for Europe, but at least two or thre...
Summary Russia shut down its Nord Stream 1 natural gas pipeline last Wednesday for “maintenance” and will thereby provide Europe with a preview of how it must learn to cope without any new Russian natural gas coming in. Regardless of where Europe gets its natural gas...
Summary We believe that cash flow and debt sustainability are likely to become increasingly important as real economic growth slows and credit access tightens. Cash flow provides a link between a company’s income statement and their balance sheet. Focusing on the Russel...
Summary The Russians turned off the gas to Germany and other EU countries that rely on Nord Stream 1. The reason why EU natural gas futures were down last week was the news that Germany was ahead of its schedule for winter storage. If the natural gas situation blows up EU fina...
Summary With the Fed draining $95 billion in liquidity from the banking system as it accelerates QT, things could go from bad to worse, although bearish sentiment is increasing and the market is getting very oversold. There are still areas of the market that are worth considering,...
Summary OPEC+ members surprised the market yesterday by agreeing to cut their output target by 100Mbbls/d for October. However, given that OPEC+ has been producing well below production targets for some time now, the impact of this cut on actual supply is limited. Given the vo...
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UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B Company Name:
OILX Stock Symbol:
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UBS Investment Bank today announced that it will redeem all of the outstanding securities of the series set forth in the following table (the "Securities"): * The table above provides the hyperlink to the relevant prospectus supplement for the Securities. Capitalized terms used but not de...