America is wasting little time getting back into the oil exporting business. Just weeks after Congress lifted a 40-year ban on exporting oil, the first shipments of the black stuff left U.S. ports for Europe. The first freely-traded shipments of U.S. crude are symbolic of the country’s newfound role as a leading producer of oil. …
Summary $30 dollar oil is pushing a lot of producers under. This environment will, in the long run, create an environment in which demand will outstrip supply. Only a reduction in demand through a recession will stop this supply-demand imbalance from occurring. By Nick Cunningham The biggest result from the collapse in oil prices could …
Summary I computed Altman’s Z2-Score for XOM, CVX, CHK, DNR, CLR, DVN, EOG, NBL, OAS, OXY, PXD, RRC, NOG, SWN, SN, WLL, FANG, MRD, APA, and APC. Altman’s Z2-Score indicated half of the companies I profiled have a high probability of going bankrupt. I believe many investors have suffered from cognitive dissonance as it relates …
Summary Two key events could impact oil prices in a big way on Wednesday. Petroleum inventory data will be reported by the EIA at 10:30 AM ET and it is a powerful factor for oil prices. The Federal Reserve will publish its latest Monetary Policy Statement at 2:00 PM ET, and it could swing both …
Texas has lost at least 60,000 upstream oil and gas jobs, plus as many as 250,000 supply chain and retail jobs indirectly, as a result of the oil crash, according to an analyst with one of the top industry trade groups in the state. Karr Ingham, a petroleum economist who compiles the semi-annual Texas Petro Index …
It could be another rough day for markets. Here are the six things you need to know before the opening bell rings in New York: 1. Bad Apple?: Apple reported its most profitable quarter ever on Tuesday, but the results show it has reached the end of an era of unprecedented growth. “This is a …
Oil prices fell as much as 7 percent on Monday, dipping below $30 as investors’ focus returned to the market’s oversupply amid news that Iraq’s output reached a record last month. U.S. crude settled down $1.85, or 5.75 percent, at $30.34 a barrel, and later fell further to $29.71 per barrel. Brent crude, the global …
HOUSTON — Texas manufacturing slowed the most in 11 years this month amid crashing crude prices and a rising dollar, the Dallas Fed said Monday, as previously reported signs of a sharp incoming slowdown finally materialized. The Federal Reserve Bank of Dallas’ previous gloomy forecasts for new orders and other growth indexes came true in …
Summary The author’s Bottom of the Barrel Club identified companies the market appears to treat as the weakest in the E&P sector; The author identifies another group, the ‘Sweet Crude Club’ as those companies the market appears to favor as the strongest in the E&P sector. Balance sheet data and various enterprise information, including EBITDA, …
It’s been an absolutely insane few days for crude oil, the most closely-watched commodity on the planet. Oil prices spiked 9% — the biggest daily jump since August — to close at $32.19 a barrel on Friday. It represents a dramatic rebound from Wednesday. Crude crashed to $26.19 a barrel Wednesday, the lowest level since …