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Saudi Aramco ( ARMCO ) has restored its production to pre-attack levels, according to reports from Reuters and Bloomberg . Production at the Khurais field is at 1.3 million barrels per day and the Abqaiq plant is about 4.9 million. Total production capacity is estimated to be 11.3 million. ...
Crude oil prices ( USO -1.6% ) slide for the third straight day , with WTI crude returning below its 50-day moving average ($56.06/bbl) and now just $1/bbl above the level seen on Sept. 13, the day before the attacks on Saudi Arabia's oil installations; November WTI -1.7% to $55.54/bbl,...
On Saturday, September 14, seventeen drones flew into Saudi sovereign territory and hit targets in the Saudi oil fields. The attack that temporarily knocked out 50% of daily Saudi output had Iran's fingerprints all over it. As the largest OPEC producer, the Saudis lost what amounted to around ...
Crude oil prices are down but off earlier lows, as Saudi Arabia restores production more quickly than expected after the Sept. 14 attacks on its oil facilities and U.S. crude inventories recorded a surprise increase . More news on: The United States Oil ETF, LP, Cimarex Energy Co., E...
By Bryce Bingham Crude oil production in the Permian has more than quadrupled since 2011 and the basin is now, on its own, the fifth-largest producer of crude in the world. The Permian has long faced a lack of takeaway capacity due to its rapid growth, but new long-haul pipelines are final...
The American Petroleum Institute reportedly shows a build of 1.4M barrels of oil for the week ending Sept. 20, following a 592K-barrel build in the previous week. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long Crud...
Crude oil prices (NYSEARCA: USO ) are mired in the red after weak manufacturing data from Europe and Japan focused attention on doubts about energy demand and as Saudi Arabia could restore full oil production faster than previously expected. More news on: The United States Oil ETF, LP, H...
The market was fairly flat last week until Friday's correction, but the Dow Industrials and S&P 500 are still up about 2% for September, and we will likely see a strong close of the month due to quarter-ending window dressing. That's when many institutional investors accumulate fundamental...
There are many different grades of crude oil. The quality of a barrel of the energy commodity depends on where producers around the world extract fossil fuel from the crust of the earth. When it comes to the refining process, lighter and sweeter forms of crude oil that have less sulfur content...
Crude oil futures climbed modestly higher , as traders sorted out conflicting reports on Saudi Arabia's ability to restore its lost production by the end of this month; November WTI crude settled +1% to $58.64/bbl, and Brent +0.8% to $64.47/bbl. More news on: The United States Oil ETF...
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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...