Cenovus Energy updates production impact of Alberta wildfires
June 5, 2023
CALGARY, Alberta, June 05, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) ha…
Analysts reiterate calls for $100 oil as Saudi Arabia cuts production
June 5, 2023
Oil Price Brent prices could hit $100 by the end of this year as the new 1 million bpd production cut Saudi Arabia announced on Sunday would further tighten the oil market, analysts said after the OPEC+ meeting this weekend. The OPEC+ producers decided to keep the current cuts until the end of 2024, while OPEC’s top producer and the world’s largest
Buy Alert: Major Canadian Energy Stocks Are on Sale in June 2023
June 5, 2023
2023-06-05 13:00:00 ET Oil and gas extraction contributed 7.6% towards Canada’s gr…
The debt ceiling drama ended well for the energy industry
June 5, 2023
Oil Price The debt ceiling drama (farce?) has ended. Having manufactured a crisis that could have tanked the economy, our legislators solved the problem and took credit for their statesmanship, some might argue. Let’s leave aside the political noise and ask about the impact on the energy industry. Economy spared— Good news for every business. Who needs a snap recession?
Saudi energy minister defends voluntary oil cuts as precautionary
June 5, 2023
CNBC Saudi Energy Minister Prince Abdulaziz bin Salman defended the voluntary output cuts announced by some allied oil producers in April, which he noted were first criticized as likely to spike crude prices — then, as failing to support them. On April 3, several producers of the Organization of the Petroleum Exporting Countries and its partners — collectively known as
Saudi pledges big oil cuts in July as OPEC+ extends deal into 2024
June 5, 2023
Reuters STORY: Saudi Arabia on Sunday said it would dramatically cut its crude oil output as part of a deal by OPEC+ nations to tighten supply into 2024 as producers seek to boost falling oil prices. The Saudi energy minister, Prince Abdulaziz Bin Salman Al-Saud, referred to the million-barrel cut as the “Saudi lollipop,” in that it sweetened a deal
Small bounce in gas prices expected from Saudi production cuts
June 5, 2023
2023-06-05 10:14:30 ET June 5 (UPI) — Retail gasoline prices in the U.S. market contin…
Small bounce in gas prices expected from Saudi production cuts
June 5, 2023
2023-06-05 10:14:30 ET June 5 (UPI) — Retail gasoline prices in the U.S. market contin…
Oil jumps 2% on Saudi plan to deepen output cuts from July
June 5, 2023
Nasdaq SINGAPORE – Oil prices jumped more than $1 a barrel on Monday after the world’s top exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting macroeconomic headwinds that have depressed markets. Brent crude futures LCOc1 were at $77.64 a barrel, up $1.51, or 2%, at 0014 GMT after earlier hitting a session-high
Why Are Oil Stocks Up Today?
June 5, 2023
2023-06-05 09:28:02 ET InvestorPlace – Stock Market News, Stock Advice & Trading Tips…
Saudi Arabia slashes oil production as OPEC+ stays pat
June 5, 2023
2023-06-05 02:46:21 ET June 5 (UPI) — Saudi Arabia announced that it will be cutting o…
