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OPEC Cuts Aren't Cutting It
Tuesday, May 16, 2017 - 4:18pm | 396The United States Oil Fund LP (ETF) (NYSE: USO) is up roughly 2 percent this week after Saudi Arabia energy minister Khalid al-Falih and Russia energy minister Alexander Novak said they would be on board with an OPEC plan to extend November’s crude oil production cuts by nine months. Muted...
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What To Know About Oil Today
Monday, April 3, 2017 - 12:03pm | 398The price of oil was under pressure Monday but hovered near the $50 per barrel mark after Libya's largest oil field came back online after a week-long disruption. Oil investors have been debated recently what impact the oilfield would have on the global market but that conversation has now come to...
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Fundamentals For Chevron, Marathon Oil Haven't Been This Favorable Since 2012
Tuesday, January 17, 2017 - 1:32pm | 299Steadily rising oil prices coupled with increased operational efficiencies in the integrated oil sector may have created the best investment opportunity in the space since 2012. According to Jefferies analyst Jason Gammel, integrated oil companies have streamlined their operations so well that they...
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As Average Price Reaches $2.49 This Year, Drivers Will See Highest Gas Prices Since 2014
Wednesday, January 4, 2017 - 11:59am | 357The OPEC production cut agreement capped off a constructive year for the global oil & gas industry in 2016. After dipping below $30/bbl in early 2016, WTI crude oil prices now seem to be stabilizing above $50/bbl. That’s certainly good news for American oil & gas industry workers....
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A Fourth-Quarter Checkup On MLP ETFs
Wednesday, December 14, 2016 - 10:59am | 461Oil is one of the fourth-quarter's best-performing asset classes. Just look at the United States Oil Fund LP (ETF) (NYSE: USO), which is higher by more than 12 percent. That bullishness is having a positive effect on energy equities. The Energy Select Sector SPDR (ETF) (NYSE: XLE) is up 13...
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What Purpose Did UWTI/DWTI Serve?
Thursday, December 8, 2016 - 3:45pm | 428Thursday is the final trading day for two popular crude oil trading instruments: VelocityShares 3X Long Crude ETN linked to the S&P GSCI Crude Oil Index Excess Return (NYSE: UWTI) and VelocityShares 3X Inverse Crude ETN linked to the S&P GSCI Crude Oil Index Excess Return (NYSE: DWTI). At...
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What's A Leveraged Oil ETF Trader To Do With UWTI And DWTI Set To Delist?
Thursday, December 8, 2016 - 2:27pm | 371Oil traders will be losing a pair of the most popular leveraged trading tools this week. Credit Suisse has announced the delisting of the VelocityShares 3X Inverse Crude ETN linked to the S&P GSCI Crude Oil Index Excess Return (NYSE: DWTI) and the VelocityShares 3X Long Crude ETN linked to the...
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How Much Upside Do Oil Prices Have Left In The Near Term?
Monday, December 5, 2016 - 2:29pm | 338Crude oil prices hit their highest level in a year and a half on Monday, following last week’s strong performance with another push higher. The surge follows last week’s surprise decision by OPEC to cut production for the first time since 2008. Recent Performance Brent futures LCOc1...
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A Timeline Of The Dakota Access Pipeline
Monday, December 5, 2016 - 11:09am | 531The long, dramatic saga involving the controversial Dakota Access pipeline took another turn over the weekend. On Sunday, the U.S. Army Corps of Engineers halted work on the line and announced it will look for an alternate construction route. Here’s a timeline of how the project has unfolded...
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Bernstein Initiates Coverage On 9 Oil Field Service Stocks
Friday, December 2, 2016 - 12:09pm | 382The OPEC deal may have finally marked a buying opportunity in oilfield service stocks after a multi-year slump in the global oil market. Bernstein analyst Colin Davies now has a positive outlook for North American oil field services stocks and has initiated coverage on nine of the biggest names in...
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11 Of The Biggest Stock Winners From OPEC Meeting
Thursday, December 1, 2016 - 12:37pm | 724With the "will they" or "won't they" dilemma now past following the greenlighting of OPEC's proposal to cut production quota, it is time to keep a tab on some of the stocks that can benefit from this news that is bullish for prices and in turn the companies. OPEC Finally Agrees On Cuts OPEC,...
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What Happened The Last Time OPEC Cut Oil Production?
Wednesday, November 30, 2016 - 12:25pm | 357OPEC has agreed to its first production cut in nearly eight years on Wednesday. Shares of the United States Oil Fund LP (ETF) (NYSE: USO) are up 8.75 percent in early Wednesday trading in response to the news. While investors await the official details, Benzinga took a look back at how the USO...
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OPEC Cuts Production: Everything You Need To Know
Wednesday, November 30, 2016 - 11:11am | 403After months of negotiations and disputes, OPEC has reportedly agreed to its first crude oil production cut since 2008. At a meeting in Vienna, sources said OPEC has finalized a deal that is in line with a plan discussed in September to cut production from 33.6 million barrels per day (bpd) to...
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Oil Players Talk Industry Direction
Tuesday, November 29, 2016 - 4:34pm | 356Investment banking firm Jefferies kicked off its sixth annual energy conference this week in Houston. The conference features many of the top players in the oil and gas industry, including those in the E&P, midstream, MLP, drilling and services sectors. Last year, 75 companies participated, and...
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ConocoPhillips Is 'A Value Opportunity In Energy'; Goldman Upgrades To Buy
Monday, November 28, 2016 - 11:29am | 357Goldman Sachs’ Neil Mehta believes ConocoPhillips (NYSE: COP) offers “compelling relative and absolute valuation, especially given share price underperformance in 2016.” Mehta upgraded the rating on the company from Neutral to Buy, while raising the price target from $47 to $54....