|
There’s volatility in the market with the escalating conflict between the U.S. and China, and also questions about whether OPEC+ producers will continue to slash their output in coming months with prices rising and demand coming back. WTI Crude is $32.73; Brent is $34.47  Source: RigZone.com - By: Sharon Cho and James Thornhill - Image: File Photo
0 Comments
Oil’s rally started to falter Wednesday as Russia indicated it wants to stick with OPEC+ plans to ease output cuts from July. OPEC+ nations have shown high compliance with the current deal, investors are weighing if that will continue. WTI Crude is $32.69; $34.87  Source: Bloomberg.com - By: Olivia Raimonde - Image: Daniel Acker Around the world, producers have slashed global production by 14 million to 15 million barrels a day so far, and global supply is still heading lower while demand is rising. This all lays the ground for higher prices down the road. WTI Crude is $34.02; Brent is $36.09.  Source: Bloomberg.com - By: Olivia Raimonde and Alex Longley - Image: Time Rue/Bloomberg Behavioral changes in response to the pandemic are visible but not all of them are negative for oil use. People are working from home more, but when they do travel, they are more likely to be in cars. WTI Crude is $33.47; Brent is $35.19.  Source: Bloomberg.com - By: Javier Blas - Image: File Photo The oil market is in better shape than even a couple of weeks ago. Futures prices are heading for a fourth weekly gain with supply and demand starting to rebalance, and physical barrels have rallied. American drillers are in the process of curtailing 1.75 million barrels a day of production by early June. WTI Crude is $31.94; Brent is $34.35.  Source: Bloomberg.com - By Ann Koh and Alex Longley - Image: File Photo |
Hours: M - F 8:00 a.m. - 5:00 p.m. CentralTelephone: 214-624-9867Email: jnichols@peqtx.com |
Quotes by TradingView
|
Redhawk Investment Group, LLC offers direct and alternative oil and gas investment opportunities that enable investors to participate in the potential cash flow and the unique tax benefits associated with oil and gas investments. There are significant risks associated with investing in oil and gas offerings. The information contained in this website is for informational purposes only and is not a solicitation to buy or sell any securities. Information on this site is not intended to be used as investment or tax advice. Consult your investment advisor or tax advisor concerning the current tax laws and effects on your personal tax situation.