Oil prices this month touched the highest levels of the year, but the market now faces a number of key tests. Production cuts by the Organization of the Petroleum Exporting Countries and its allies, and U.S. sanctions on Venezuela and Iran have worked to tighten global crude supplies, and violence in Libya threatens to cut off the flow of even more oil. Read the source … [Read more...] about Here are the biggest hurdles oil-market bulls will face in the next few months
Oil & Gas
(Bloomberg) -- Generation Z has precious little love for oil and gas stocks, but winning over these younger, climate-conscious investors will be essential for the sector’s future, Barclays Plc analysts say. Only 19 percent of 18-to-24-year-olds are likely to buy shares in oil and gas companies, the lowest level of any age group, according to a survey conducted by Barclays and … [Read more...] about Oil Stocks Must Win Over Gen Z Investors
Several Texas-based oil stocks that got a boost Friday from the Chevron deal to acquire Anadarko Petroleum went higher still on Monday. Parsley Energy (ticker: PE) shares rose 11.7% on Friday and were 2% higher again on Monday morning, even as the Dow Jones Industrial Average fell 0.2%. Pioneer Natural Resources (PXD) shares rose 11.5% on Friday and were 1% higher again on … [Read more...] about Who’s Next After the Chevron Deal? Check Out These 4 Texas Oil Stocks.
(Bloomberg) -- Oil headed for its longest weekly winning streak since 2016 as supply disruptions in Libya and Venezuela persist at a time when the OPEC+ coalition is showing record compliance with its pledged output cuts. Futures in New York rose 0.4 percent Friday and are up 1.2 percent this week. Libyan warlord Khalifa Haftar has moved his forces to the gates of Tripoli when … [Read more...] about Oil is Rallying like it’s 2016
(Bloomberg) -- Oil extended gains toward $61 a barrel in New York on signs China’s economy is stabilizing, and as investors hope for a breakthrough in the country’s trade talks with the U.S. that will resume this week. Crude futures rose as much as 1.3 percent, following their strongest quarter since 2009. China’s manufacturing PMI eased worries over the global economic … [Read more...] about Oil Extends Decade-Best Run