This 1 Small Stock Has Real Potential to Explode by 2024
June 12, 2023
2023-06-12 18:00:00 ET Market experts believe an economic downturn will pull down the T…
Pioneer sees $70-$100 oil as supply growth remains constrained
June 12, 2023
Oil Price Oil prices are set to rise later this year and trade in the $70-$100 range over the next three to five years as supply growth remains limited and OPEC+ continues to restrict output, according to a top executive at the largest pure-play U.S. shale producer, Pioneer Natural Resources. Higher labor and material costs are slowing U.S. shale
U.S. to purchase 3 MMbbl for emergency reserve
June 12, 2023
World Oil (Bloomberg) – The Energy Department announced Friday it planned to purchase 3 million more barrels of crude oil for the Strategic Petroleum Reserve. A previous solicitation for about 3 MMbbl resulted in contracts awarded to five companies, with the oil being purchased for an average price of about $73 per bbl, according to a DOE statement. The move
FOCUS-Rich US subsidies may hobble Canada’s clean-fuel efforts
June 12, 2023
Nasdaq WINNIPEG, Manitoba – Canadian biofuels producers are threatening to build their next projects in the United States to cash in on rich subsidies for clean fuel and stay competitive, a move that could cost Canada C$10 billion ($7.5 billion) of investment and undermine Prime Minister Justin Trudeau’s efforts to build a greener economy. Reducing fuel’s carbon intensity is
Pentagon papers show Saudi Arabia, U.S. traded threats over oil
June 12, 2023
Oil Price Newly leaked Pentagon papers showed that Saudi Arabia’s Crown Prince Mohammed bin Salmon threatened the United States with economic calamity over oil production decisions, according to the Washington Post. Relations between U.S. President Biden and Saudi Arabia’s bin Salman have been sour since before President Biden took office, with the latter threatening to make bin Salman a pariah.
Argentina says Chevron to invest $500 mln in Vaca Muerta shale area
June 12, 2023
BOE Report U.S.-based oil major Chevron will invest more than $500 million to develop the Trapial block in western Neuquen province, home to the massive Vaca Muerta shale basin, Argentina’s economy ministry announced on Friday. The announcement followed a meeting between Economy Minister Sergio Massa and company officials, according to a ministry statement. The new spending plan is scheduled to start before
WTI plunges 4% ahead of Fed rate decision
June 12, 2023
Oil Price Oil markets have kicked off the new week on a sour note with both Brent and WTI crude sliding over $3 per barrel after Goldman Sachs’ latest call. Last week, Goldman Sachs’ oil ultra bull Jeff Currie once again lowered his Brent forecast for December, this time to $86 a barrel from $95 and $100 before that. Currie cited increasing supply
