Connect with us

Commodities

Oil above $70

Published

on

OPEC and some allies including Russia are due to meet on June 25 and 26 to discuss output policy going forward.

Saudi crude oil exports to China rose 43 percent on the year in April to an average 1.53 million bpd versus 1.07 million bpd in April 2018 as independent refiners continued buying more. OIL

Prices have been supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) since the start of the year.

“Iran exports remain under pressure as U.S. sanctions bite. This comes as OPEC appears to be heading towards extending the current production cut agreement,” – reuters.com

Marathon Oil: Well-Prepared For Oil Price Volatility

Marathon Oil (MRO) is well-positioned to withstand oil price swings. It is a rare example of an oil producer that managed to generate enough cash flows to fully fund its capital expenditures, dividends, and buybacks in the first quarter when WTI averaged less than $55 a barrel. The company can generate even higher levels of free cash flows in the future and significantly accelerate share repurchases if oil stays close to $60s. Furthermore, I believe Marathon Oil can also stand firm against further weakness in oil prices. – BUY SOME Marathon Oil? – SeekingAlpha

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Commodities

Crude Oil slipping half a percent to the weakest closing price since Feb

Published

on

By

U.S. West Texas Intermediate crude futures settled 25 cents lower at $53.25 per barrel, slipping half a percent to the weakest closing price since Feb. 12. Earlier in the session, WTI hit a session high of $54.63 per barrel.

Concerns that a U.S.-China trade war, and threats of tariffs on Mexico from the United States, would diminish global crude demand, however, weighed on oil prices.

“Focus has shifted from the supply to the demand side as a U.S.-China trade agreement has proven elusive and as worries over the debilitating effects of tariffs on global economic growth have now shifted to Mexico,” Jim Ritterbusch of Ritterbusch and Associates said in a note. – read more

Most of the movement for oil has been based on “economic concerns of weakened growth because of the potential impact of [the] trade situation,” said James Williams, energy economist at WTRG Economics. U.S. tariffs on Mexican goods have added to the concerns about China, he said. – marketwatch.com

Continue Reading

Commodities

Crude prices slumped to a three-month low on concerns with Trump’s trade policy

Published

on

By

Oil Opens a New Window. prices slumped to a three-month low Friday as concerns about President Trump’s trade policy Opens a New Window. and the slowdown in the Chinese economy Opens a New Window. cast doubt on the outlook for global demand.

Front-month Brent crude futures, the international benchmark, traded down 2.6% at $63.60, having earlier dipped to their lowest level since mid-February. U.S. benchmark WTI dropped 2.4% to $55.25, its cheapest price since early March. read more @ FoxBiz

Continue Reading
Advertisement Oilfield Forums
Advertisement

Fracking Categories

Tags

Trending