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Reports out of Vienna suggest OPEC and its allies led by Russia are discussing increasing current cuts of 1.2M barrels per day by more than 400K bpd, as well as extending their agreement from March, to June or later. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil...
Introduction In a recent article, we discussed the possibility that Saudi Arabia-KSA, the defacto leader of OPEC, might just be tired of " doing most of the heavy lifting " when it comes to production cuts. Particularly, when other members are flouting their obligations and overproducing. It...
Saudi Arabia is threatening to increase oil production unilaterally if some OPEC nations continue to defy existing output cuts, WSJ reports, citing cartel officials. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long...
Crude oil ( USO +3.4% ) powers higher amid optimism that the OPEC+ group could approve deeper production cuts when they meet in Vienna this week, with further support from industry data showing a larger than forecast drop in U.S. crude stockpiles. More news on: The United States Oil ...
The American Petroleum Institute reportedly shows a draw of 3.72M barrels of oil for the week ending Nov. 29. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long Crude Oil ETN, Energy stocks news, Commodities news, News...
The S&P energy sector ( XLE +0.3% ) is bucking the downward slide in the broader market as January WTI crude oil +1.6% to $56.05/bbl, topping its 50-day moving average of $55.59/bbl. More news on: Energy Select Sector SPDR ETF, Marathon Oil Corporation, Cimarex Energy Co., Energy...
This is a guest post by Ovi. All of the oil production data for the states comes from the EIAʼs Petroleum Supply Monthly . The charts below are updated to September 2019 for the largest US oil-producing states (>100 kb/d). There continues to be much speculation and informati...
In an effort to prop up Aramco's ( ARMCO ) IPO share price, Saudi Arabia will push for an oil output cut extension at this week's OPEC+ summit to at least June 2020, Persian Gulf officials told WSJ . More news on: Saudi Aramco, The United States Oil ETF, LP, iPath S&P GSCI Crude Oil...
Introduction The markets, jittery as ever on Friday, took to heart rumblings coming from the attendees of the bi-annual summit in Vienna. The oil price tumbled as a result, dropping 5% in a single day to finish just above $55/bbl. Here's the issue for Riyadh. KSA has shouldered the brunt o...
OPEC will meet next week on Dec. 5-6 Although Brent crude dropped below $63 per barrel by the week closing, oil prices are still very close to the levels that prevailed around OPEC's meeting six months ago when an output cut rollover was suggested till March 2020. OPEC will meet next wee...
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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. , 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...