Tag: oil

4 Oct, 2021

OPEC+ decision leads to higher oil prices

OPEC and a Russia-led group of oil producers agreed to continue increasing production in measured steps, delegates said Monday, deciding against opening the taps more widely, and driving U.S. crude prices to their highest levels since 2014. West Texas Intermediate, the main U.S. oil price, rose 2.3% to close at $77.62 a barrel. Brent, the […]
19 Jul, 2021

Exxon names new CFO

Exxon Mobil Corp. has hired Kathryn Mikells as its next chief financial officer, succeeding 43-year company veteran Andrew Swiger as the company’s top financial executive. Ms. Mikells will take over as the energy giant’s CFO Aug. 9, the company said. She previously served as CFO of Diageo PLC, a British beverage company, since 2015. Before […]
19 Jul, 2021
15 Jul, 2021

OPEC reaches compromise with UAE

If the compromise takes hold that could lead to a drop in the price of oil. In this post pandemic economy who knows what effect this will have. I expect we won’t notice much of a change in the short term. It’s more important to keep an eye out for the long term trend. Right […]
6 Jul, 2021

Oil prices shaky amid OPEC indecision

OPEC hasn’t agreed to increase production which is keeping the price of oil elevated. Crude prices have advanced almost 60% this year, a surge powered by a revival in consumption of fossil fuels as vaccines roll out and major economies unlock. The Organization of the Petroleum Exporting Countries and its allies, led by Russia, have […]
19 Jun, 2021

The Yield – Week ending June 18, 2021

Stocks drop for the week, oil prices hit a high, jobless claims increase, the year of the individual investor, Microsoft names new board chairman, IBM closes an acquisition, Sonoco expands recycling, and Verizon gets a contract. All that including my weekly portfolio update and dividend news
14 Jun, 2021

Crude oil prices hit it’s highest price in 2 1/2 years

The thinking I guess is that investors are pouring money into renewable energy generation and keeping oil production low. This would keep supply low during current and/or rising demand which will keep the price of oil elevated for the time being. I don’t think anyone can really tell what will happen over the next year […]
12 Jun, 2021
1 Jun, 2021

Biden Administration suspends oil leases in the Arctic

This is why I don’t like Executive Orders. They don’t promote stability. Everyone is subject to the whims of who ever is in office. Allow drilling… don’t allow drilling… and on and on. Just keep the rules consistent so business knows what it can and cannot do. Think of the investments wasted. The Biden administration […]
1 Jun, 2021

Oil prices jump over $70 a barrel today

This explains why my oil stocks jumped today as well. The price of oil was on course Tuesday to close above $70 a barrel for the first time in two years on investors’ optimism that improving oil demand and a dwindling supply glut may mean the market can absorb any additional supply from OPEC and […]