OPEC Boosts Output as US Enters “New Phase” of Coronavirus

After extending historic 9.7 MMbpd cuts through July, OPEC+ is now slowly unwinding its production cuts, moving to 7.7 MMbpd. That level will hold through December, downshifting again in January to 5.8 MMbpd. With global oil demand still well below normal levels and coronavirus cases rising around the world, many see the increase as a […]

Mid-Week Review – April 15, 2020

Cheap oil isn’t going away, even after record production cuts Oil prices barely budged Monday, remaining near 18-year lows. And the S&P 500 energy sector (XLE) lost further ground, leaving it down a stunning 43% on the year.  The muted reaction on Wall Street reflects a realization that despite the historic nature of the OPEC+ […]

U.S. oil producers issued record equity in 2016 and increased investment in the final quarter

A group of 44 U.S. onshore-focused oil producers issued a record amount of equity in 2016. In the fourth quarter of 2016, capital expenditure for these companies was $4.9 billion (72%) higher than in the fourth quarter of 2015. This increase in investment spending was the first year-over-year increase since the fourth quarter of 2014 […]

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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