Tag: oil markets
Oil Is Breaking Out, How About Oil Company Stocks?
In late 2016, OPEC agreed to cut production in order to address an oversupplied oil market. Global crude oil inventories had reached record highs, and the price of oil had crashed. OPEC’s strategy is having the desired effect. Over the past year, despite strong U.S. shale production growth, global inventories have steadily declined. In response, […]
Buy These 3 Stocks For The Boom In American Oil Exports
Monthly oil output in the U.S. this year topped 10 million barrels a day for the first time since 1970, hitting all-time records. And the surge has just begun. On March 5, the International Energy Agency (IEA) released its forecast that predicted U.S. shale output would rise by 2.7 million barrels a day to 12.1 […]
Major Oil Buyers Are Quietly Prepping For A Supply Shock
Continuing major changes in global oil flows this week. With big consumers like Indian Oil Corp and South Korean refiner SK Innovation making their first-ever purchases of U.S. crude exports. And in Iran this week, the nation saw its first crude swaps in 7 years — with shipments of oil arriving in Caspian ports from Turkmenistan, to be swapped with shipments […]
Here’s The Reason OPEC Cuts Didn’t Work Out
It was only a few months ago that OPEC, once the de facto arbiter of oil markets, seemed to have a plan to inflate the price of oil: The cartel, along with several non-OPEC members, agreed in December to cut production by roughly 1.2 million barrels per day. And for the first quarter of 2017, […]
