The great energy sector puzzle: Oil is up but oil stocks are down?
On Friday oil futures hit a 29-month high. That took West Texas Intermediate to a gain of 8.5% in 2017 to date. However, energy stocks in the Standard & Poor’s 500 are off 9.8% when the S&P 500 itself is up more than 16% for 2017. Energy stocks normally go up when the price of oil rises Sp how do we explain the decline in energy shares at the same time as oil prices are rising?
OPEC raises global oil demand forecast–and its projection for U.S. shale production
Good news for oil prices:  OPEC raised its forecast for global oil demand in 2021 by 2.3 million barrels a day above last year’s projection. It also raised its oil demand forecast in 2040 by 1.7 million barrels a day to about 111 million barrels. Bad news for oil prices: OPEC also forecast that oil output from North American shale producers will hit 7.5 million barrels a day in 2021.
Oil’s big day as OPEC and U.S. oil shale both produce big news
U.S. benchmark West Texas Intermediate closed up 4.21% to $48.25 a barrel today, July 25. International benchmark Brent climbed 3.93% to $50.51 a barrel. Big moves. Exactly what you’d expect on a day when both OPEC and U.S. shale producers produced big news.
Notes You Need for March 30: Initial claims for unemployment, GDP revised upwards, natural gas inventories, drilled but uncompleted well backlog, uncompetitive coal, Brexit job losses
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Notes You Need for January 31: Macau gaming, APC, oil shale, biotech, drug stocks,dollar,euro, SBUX
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Oil is likely to stay above $50 but not to go much higher on OPEC compliance with production cuts and increased U.S. output
Yesterday, January 30, oil prices fell as another increase in the number of oil rigs at work in the U.S. met skepticism about OPEC’s ability/willingness to meet its full goal for cutting production
Notes You Need for January 17: China oil production, Nevada gaming, NBL, Permian Basin, global innovation rankings, Russian oil production
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Notes You Need for January 13: APC, WES, oil shale, German economic growth, Mexico tortilla prices, Saudi oil production, Trump budget deadline
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...OPEC take notice: U.S. oil shale producers are hedging like crazy against a drop in oil prices
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Oil drops again on fears of increasing supply
Oil prices are down again today, June 16. As of 1:15 p.m. New York time West Texas Intermediate was off 3.15% to $46.50 a barrel and the Brent benchmark was down by 2.98% to $47.50. $50 a barrel remains a critical barrier with traders unwilling to buy much above that price