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A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. (Reuters) Before the trade war, China was the largest oil importer of US shale oil, with almost 500,000 bpd last year that w...
The data for the charts below were taken from the EIA's Monthly Energy Review . It is crude plus condensate through March 2019 and is in thousand barrels per day. World C+C was down 281,000 barrels per day in March. Non-OPEC was up 218,000 barrels per day in March. World less the USA pe...
Investment Thesis The extension of the OPEC+ deal is more positive for the oil market than it seems. And that is why this is a weighty reason for buying the iPath's S&P Crude Oil Total Return Index ( OIL ). Instrument The S&P GSCI ® Crude Oil Total Return Index reflects the...
Without Russia, OPEC would be nothing more than a toothless tiger. The international oil cartel that determined the price of oil around the world for decades via its production policy now only includes one of the world’s top three producers of the energy commodity among its ranks. While...
Following the OPEC+ decision to extended the output cuts as agreed to last December for nine months through March 2020, WTI crude futures prices dropped 4.81 % ($2.84/b). The reason was that the 1.2 million b/d cut from the October 2018 level has proven to be inadequate. OPEC’s May prod...
By Joseph G. Paul, Akhil Kapoor, Jeremy Taylor What's the long-term outlook for oil in a world shifting to renewable energy? Oil majors publicly say supply-and-demand dynamics will support the market. But their investment choices suggest that they're preparing for a much weaker oil price i...
With decisions in the books for OPEC Plus, Morgan Stanley has trimmed its long-term forecast for oil prices. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, Commodities news, News on ETFs, ...
Tensions in the Persian Gulf - the world's key oil exporting region - have risen sharply. Yet, oil trades well below its late-2018 peaks - and oil-related equities have lagged the broader market. What explains the disconnect? We delve into both short-term and long-term oil market fundamentals,...
Welcome to the bang edition of Oil Markets Daily! EIA reported quite a sizable storage draw last week of 12.8 mbbls for crude storage. This draw was ~8 mbbls higher than our forecast and made up for the previous 3 weeks of misses. On a forward-looking basis, the trajectory over the comin...
After paring gains earlier today, oil rose a bit into settlement amid reports that Iran stopped a holdout and OPEC delegates came to a compromise on its new charter. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ET...
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WALNUT CREEK, Calif. , Nov. 20, 2019 /PRNewswire/ -- United States Commodity Funds LLC (the "Company"), a sponsor of exchange-traded products, plans to close and liquidate two of its exchange-traded products. On November 20, 2019 , the Board of Directors of the Company authori...
WALNUT CREEK, Calif. , Sept. 23, 2019 /PRNewswire/ -- USCF announced today that it will execute a one-for-two reverse share split that will be effective for shareholders of the United States 3x Short Oil Fund (USOD), a series of the USCF Funds Trust, after the close of the markets ...
WALNUT CREEK, Calif. , Aug. 6, 2019 /PRNewswire/ -- USCF today announced that it has joined the Raymond James IAD ETF No-Transaction-Fee (NTF) platform providing access to all thirteen of their exchange-traded funds and products. "We are excited to expand our suite of fun...