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Last Thursday, the Commerce Department announced its preliminary estimate for second-quarter GDP growth at an annualized decline of -0.9%, which marks two consecutive quarters of negative GDP growth. The Commerce Department announced on Wednesday that durable goods orders increased a ...
Saudi Aramco has plans to almost double its fleet, which in the past 10 years has averaged 45 jackups, to 92 contracted jackups by the end of 2023. Between ADNOC Drilling and Advanced Energy Systems, they hold 70% of jackup purchases in 2022. Based on production targets and curren...
Just like last month, I am again lowering my West Texas Oil ((WTI)) forecast for the upcoming month by ten dollars per barrel to range between $90 to $110. While the physical market remains tight, oil may be held in check by the approaching shoulder season and recessionary fears. ...
The largest production decreases came from the GOM, Texas and New Mexico. In the On-shore L48, May production increased by 95 kb/d to 9,542 kb/d. North Dakota’s May output rebounded from the April storm to 1,049 kb/d, an increase of 155 kb/d from April. The slowing of r...
Inventory just keeps falling. US Crude Production remains on a very slow recovery with a headwind from SPR releases. Crude working inventory continues a drawdown which one can interpret as an industry continuing to improve its use of working capital. Inventory just keeps...
Since the Russian invasion of Ukraine, there have been increasing questions about the ability of Canada, the world's fourth largest oil producer - and specifically the oil sands - to contribute more oil to the United States and the global market. Market instabilities of the past - bot...
Since the beginning of Russia’s planned Nord Stream 1 maintenance period (from July 11 to 22), European gas storage stock change has dropped below historical averages. Today, Europe is adding significantly less gas to its storage than it has at this time over the past five year...
In all fairness to the Atlanta Fed, some of last week’s statistical releases indicate an economic slowdown, but at a very slow pace, nothing like the rapid contraction that accompanied serious contractions in 2008-9 or 2020. Russia’s Gazprom last week notified major cust...
Despite being dragged down with most other asset classes in June’s selloff, resource equities have continued to exhibit remarkable resilience relative to broad equities, bonds and other real assets over the last year. Many resource companies - particularly in oil and gas explor...
Again, inflation has surprised to the upside. The Consumer Price Index was up 1.3% month-over-month and 9.1% year-over-year in June. Fears of a recession contributed to the decline in commodity prices from early June highs. In our view, this reaction is misguided. The future path ...
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UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B Company Name:
OILX Stock Symbol:
NYSE Market:
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...