Oil Industry of China. Black drum barrels crude oil and chinese flag on a world map. 3d illustration getty All of my indicators are telling me that oil is getting set to rip higher. And when it does, ...
Tag: Oils
Biden blasts Big Oil’s record profits amid the ‘energy crisis’ — proposes quadrupling the tax on buybacks. Here’s how much the 3 giant US-based producers made in 2022
‘It’s outrageous’: Biden blasts Big Oil’s record profits amid the ‘energy crisis’ — proposes quadrupling the tax on buybacks. Here’s how much the 3 giant US-b...
Big Oil’s Big Paradox: Record Profits, Low Stock Valuations
Big Oil has never been more profitable, but it has hardly ever been a smaller part of the stock market. That’s enough to make industry executives feel unappreciated. “We’re grossly undervalued,” says ...
BP and Shell vs. Exxon and Chevron: The Mystery of Big Oil’s P/E Gap
Last year, global oil companies boomed. BP and Shell both based in London, saw share prices rise some 40% in 2022 and trade at five times forward earnings. U.S.-based Exxon Mobil soared nearly 80% and...
Oil’s huge surge in 2022 has completely reversed
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, November 29, 2022 Today’s newslette...
Marathon Oil’s Solid Balance Sheet & Shareholder Returns Prompt 30% Price Target Hike By This Analyst
Raymond James analyst John Freeman reiterated a Strong Buy rating on the shares of Marathon Oil Corp (NYSE: MRO) and raised the price target from $37 to $48. The analyst said Q3 earnings were strong f...
Big Oil’s Profits Just Keep Rolling in as World Economy Sputters
(Bloomberg) — Big Oil’s run of record profit will suffer only a minor dent for the third quarter, even as the global economy shows signs of cracking under the pressure of rising inflation and in...
Saudi Prince Says Oil’s Disconnect May Force OPEC+ Action
(Bloomberg) — Most Read from Bloomberg Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said “extreme” volatility and lack of liquidity mean the futures market is increasingly disconnec...
Oil’s New Bible-Thumping, Biden-Bashing Billionaire
Tim Dunn’s CrownRock kept the pedal to the metal throughout the pandemic and doubled its output in time for oil’s spike to $100. Now the new billionaire is pumping his opportunistic windfall into his ...
Revenge of Old World Economy as Big Oil’s Cash Flow Rivals Tech
(Bloomberg) — Exxon Mobil Corp.’s cash haul overtook that of Alphabet Inc. for the first time since 2018, proving the oil giant is back in the big league just a year after suffering one of the b...
Why Biden’s visit to Saudi Arabia is unlikely to contribute much to oil’s price decline
President Joe Biden is in the Middle East late this week and the pressure is on for the U.S. to look to Saudi Arabia, the world’s largest oil exporter, for more barrels of oil. Limits to oil productio...
Food Inflation Fears Abate as Cooking Oils and Grains Plummet
(Bloomberg) — Worries over surging global food costs are easing as prices of everything from cooking oils to wheat and corn tumble to the lowest levels in months on increasing physical supplies ...
Crude Oil’s Inflation Trade Is Unwinding, Credit Suisse Says
(Bloomberg) — This year’s standout inflation trade of backing commodities is coming under pressure on concern a recession will curb demand for raw materials. Most Read from Bloomberg That’s the ...
What Biden Is Getting Wrong About Big Oil’s Profits
Last Friday President Biden singled out ExxonMobil for reaping big profits as a result of high oil and gas prices. The President complained “Why don’t you tell them what Exxon’s profits were this year...
The market is worried that oil’s rise may cause a recession
CNBC’s Jim Cramer broke down why oil’s skyrocketing price has Wall Street worried about a recession, pointing to the fall in oil stocks on Wednesday even as crude hit record levels. “...
This trader predicted the bond meltdown, tech selloff and oil’s surge. Here’s what she says is coming next.
Fade the Fed anyone? Stocks are headed south, following a big Wall Street rally stemming from perceptions Federal Reserve Chair Jerome Powell and co. may be less hawkish than markets think. A short-li...
After Oil’s Surge, Saudi Aramco Hikes Spending to Boost Output
(Bloomberg) — Saudi Aramco will increase spending and issue bonus shares as oil’s surge to more than $100 a barrel bolsters the company’s plan to boost production. Most Read from Bloomberg The S...
Dow Jumps 700 Points, Oils Hits 11-Year High As ‘Investors Are Whipsawed’ By Rate Hikes And Russia-Ukraine Conflict
Topline The stock market jumped on Wednesday—despite oil prices skyrocketing to their highest level since 2011 amid Russia’s invasion of Ukraine—as Federal Reserve Chairman Jerome Powell told Congress...
Chevron Profit Falls Short of Forecasts Despite Oil’s Rally
(Bloomberg) — Chevron Corp. posted disappointing profits after slumping values for some long-held fields hurt the oil giant’s ability to take full advantage of surging energy prices. Most Read f...