(Bloomberg) — It’s such a bad time to be a publicly traded oil company that Harold Hamm, the billionaire founder and chief executive officer of Continental Resources Inc., was asked whether it’s still worth it.“In today’s market, we don’t see a lot of value in it,” Hamm said Tuesday on the company’s
— Read on ca.finance.yahoo.com/news/shale-billionaire-hamm-says-little-193429636.html
Tag: Oil
Brent Crude Steadies After Entering Bear Market on Trade War
(Bloomberg) — Brent crude steadied after falling into a bear market as concern the U.S.-China trade war will continue to sap demand outweighed an industry report showing American crude stockpiles are still shrinking.Futures traded near $59 a barrel in London after settling 1.5% lower on Tuesday, taking
— Read on ca.finance.yahoo.com/news/oil-extends-slide-heightened-trade-223137767.html
Pipeline firms add room to meet ‘unrelenting’ demand for Canadian oil – BNN Bloomberg
Pipeline firms add room to meet ‘unrelenting’ demand for Canadian oil – BNN Bloomberg
— Read on www.bnnbloomberg.ca/pipeline-firms-add-room-to-meet-unrelenting-demand-for-canadian-oil-1.1296333
This Is the Place With the Most Expensive Gas in the World
Gasoline prices have been trending higher in the United States since the beginning of 2019. Yet retail pump prices are nowhere near the heights of the world’s most expensive.
— Read on www.msn.com/en-ca/money/topstories/this-is-the-place-with-the-most-expensive-gas-in-the-world/ar-AAFdVPG
Oil prices jump 4.5% on U.S. crude stocks draw, Gulf of Mexico storm – Reuters
Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm.
— Read on www.reuters.com/article/us-global-oil/oil-prices-jump-4-5-on-u-s-crude-stocks-draw-gulf-of-mexico-storm-idUSKCN1U5027
Pipeline Stocks Dominate Canada’s Energy Index as Lines Run Full – Bloomberg
Regulatory delays to new pipelines like TC Energy Corp.’s Keystone XL and Enbridge Inc.’s Line 3 have Canadian midstream companies’ existing conduits running at full capacity, boosting earnings and pushing their shares to the top of the charts among Canadian energy stocks.
— Read on www.bloomberg.com/news/articles/2019-07-08/pipeline-stocks-dominate-canada-s-energy-index-as-lines-run-full
OPEC agrees to extend current production cuts by 9 months
Saudi Energy Minister Khalid al-Falih said Tuesday he was 100% confident non-OPEC producers would agree to a rollover of supply cuts.
— Read on www.cnbc.com/2019/07/01/opec-looks-likely-to-extend-oil-output-curbs-ahead-of-vienna-meeting.html
Bank of America Sees Risk of $30 Oil If China Devalues Yuan – Bloomberg
A further deterioration in relations between the U.S. and China could set off a chain of events that would push oil down more than 50% to as low $30 a barrel, according to Bank of America Merrill Lynch.
— Read on www.bloomberg.com/news/articles/2019-06-26/bank-of-america-sees-risk-of-30-oil-if-china-devalues-yuan
Saudi Arabia Seeks to Balance Global Crude Markets Before 2020 – Bloomberg
Saudi Arabia is working to balance global oil markets this year, the country’s energy minister said when asked if there’s an impending surplus.
— Read on www.bloomberg.com/news/articles/2019-06-15/saudi-arabia-seeks-to-balance-global-crude-markets-before-2020
Oil could fall to $45 per barrel on US-China trade war, says investor
Oil demand is at risk of declining further if the U.S. and China fail to resolve trade tensions, which will cause the global economy to weaken even more, said Rainer Michael Preiss, executive director at Taurus Wealth Advisors.
— Read on www.cnbc.com/2019/06/13/oil-could-fall-to-45-per-barrel-on-us-china-trade-war-says-investor.html