Oil above $70

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