Will Oil Ever Get Back To $50 Again? (USO)

Image of an oil derrick with blue sky
From Nick Cunningham: Oil prices have plunged back to levels not seen since OPEC announced its original production cut deal last November. Prices have been falling since the group extended their cuts for another nine months, a two-week slide that puts WTI back in the mid-$40s.
NYSE:USO June 9, 2017 5:51am

JPMorgan Slashes 2018 Oil Forecast Amid Lack Of OPEC Exit Strategy

From Tsvetana Paraskova: The U.S. shale-vs-OPEC-cuts tale has been the predominant theme in oil markets this year, and like the cartel’s output cut, it will be rolling over into next year as well.
NYSE:USO June 8, 2017 6:08am

Lower U.S. Oil Inventories Spur A Small Rally In Crude Prices (USO)

oil gas 600X300
From Julianne Geiger: The American Petroleum Institute (API) reported a draw of 4.62 million barrels in United States crude oil inventories, compared to analyst expectations that markets would see a draw of only 3.5 million barrels for the week ending June 2.
NYSE:USO June 7, 2017 6:25am

Oil Markets Are Becoming Increasingly Untradeable (USO)

Image of oil drums
From Brian Noble: Could it be that it’s been a case of ‘sound and fury signifying nothing’? According to technical analyst Chris Verrone of Strategas in New York, the crude oil/WTI complex has been basically untradeable for the last year.
NYSE:USO June 5, 2017 9:56am

OPEC Oil Production Cut Deal Already Looks Shaky (USO)

From Osama Rizvi: Rising production from both U.S. shale and Libya has been playing havoc with oil prices of-late. The possibility of a strong Summer Driving Season, which may subsequently lead to some inventory drawdowns, has been holding up sentiment in markets. But the possibility of an OPEC deal debacle is starting to loom over markets.
NYSE:USO June 4, 2017 6:55am

Oil ETFs On Ice, As Qatar/Saudi Conflict Threatens Future Of OPEC Deal (USO)

oil drum
From Cyril Widdershoven: The cohesion of the Gulf Cooperation Council (GCC), which includes all Arab Gulf countries, seems to be cracking. UAE Minister of State for Foreign Affairs, Anwar Gargash, openly stated that the GCC was facing a major crisis, as Qatar seems to be opening up to Iran.
NYSE:USO June 2, 2017 5:59am

Could Crude Oil (USO) Drop Back Down To $12 Per Barrel?

From David Melton: It wasn’t that long ago, 19 years to be precise, when the average oil price was $11.91 per barrel (WTI). Are world conditions such that we could see that price again?
NYSE:USO June 1, 2017 6:37am

Crude Oil (USO) Falls Again, As OPEC Exit Strategy Comes Into Question

From Tom Kool: Oil prices fell slightly on Monday as analysts worry about the long-term implications of the OPEC output cut deal, fearing that OPEC does not have an exit strategy.
NYSE:USO May 31, 2017 6:37am

Are Crude Oil (USO) Prices Still Way Too High?

oil gas 600X300
From Art Berman: OPEC extended oil production cuts last week and oil prices plunged.
NYSE:USO May 30, 2017 8:13am

Why Oil (USO) Might Be Presenting A Major Buying Opportunity

From Martin Tiller: Those new to financial markets, and energy trading in particular, were probably somewhat puzzled by the price action in oil futures this week following the announcement by OPEC and some influential non-OPEC nations that they are extending the production cuts agreed last year for another nine months, until the end of Q1 2018.
NYSE:USO May 29, 2017 6:34am

Oil Companies Could Go Bankrupt If Oil Falls, Stays Below $45 (USO)

oil drum
From Tsvetana Paraskova: Technological advances and deflationary pressure from the downturn have resulted in an 8-percent drop in global average unit production cost to US$30 per barrel of oil equivalent in 2016, which implies that the industry needs the price of oil at US$45 to break even in aggregate, according to a Bernstein Research survey of the 50 biggest listed global oil and gas companies.
NYSE:USO May 27, 2017 7:20am

Here’s Why Crude Oil (USO) Plunged, Despite OPEC Deal News

From Nick Cunningham: The latest OPEC meeting was uncharacteristically tranquil, with little of the eleventh hour infighting and arm-twisting that has been so prevalent in previous meetings.
NYSE:USO May 26, 2017 6:02am

Goldman Says Oil (USO) Will Plunge Once OPEC Deal Expires

Image of oil drums
From Nick Cunningham: OPEC is about to extend its production cuts for another nine months in an effort to bring the oil market back into balance.
NYSE:USO May 25, 2017 6:21am

What Oil (USO) Investors Can Expect From This Week’s OPEC Meeting

oil drum
From Nick Cunningham: The highly-anticipated OPEC meeting will take place this week, but unlike the last few meetings, the hype and excitement is much less palpable. That is largely because the end result is thought to be a foregone conclusion.
NYSE:USO May 23, 2017 11:00am

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