Economy

The 360 Digital Closing Bell Week Ahead – 3/30/2020

The 360 Digital Closing Bell Week Ahead – 3/30/2020

The 360 Digital Bell Week Ahead Report. Michael Tanner, the Host of the closing bell, covers what to look for during this week; the good the bad and the homely.

Some of the key takeaways this week:

 

The oil

Source: CNBC

House passes $2 trillion coronavirus stimulus bill, sends it to Trump

CNBC


The House passed a $2 trillion coronavirus relief bill on Friday, sending the unprecedented measure to President Donald Trump’s desk after a scramble to block an effort to delay its passage.

The chamber approved what is believed to …

March 27, 2020 - 3:30 pm Economy, Jobs, Politics & Opinions, Regulatory
Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

CNBC


Oil & Gas 360 Editor’s Note: Excellent CNBC Fast Money Interview with Scott Sheffield, CEO, Pioneer Natural Resources. Scott talks about several key points:

  • He has asked President Trump to get involved with the price war between Russia and
Source: Houston Chronicle

Oil pain spreads beyond Permian to small towns across America

Houston Chronicle


The oil market turmoil sparked by Saudi Arabia and Russia is threatening U.S. jobs even in Cut Bank, Montana, and Magnolia, Arkansas — relatively obscure communities in the world of energy.

In such places, mom-and-pop outfits run so-called …

The 360 Digital Closing Bell Week Lookback – 3/27/2020

The 360 Digital Closing Bell Week Lookback – 3/27/2020

The 360 Digital Bell Week Lookback Report. Michael Tanner, the Host of the closing bell, Covers what happened during this week; the good the bad and the homely. 

Some of the key takeaways this week: 

  • 10 Million reduction in demand 
Source: Houston Chronicle

U.S. Halts Plan to Buy Crude Amid Uncertainty Over Funding

Houston Chronicle


The Trump administration halted plans to start buying oil to top up the nation’s emergency stockpile after failing to win funding from Congress, throwing a wrench in its most tangible efforts to help struggling drillers cope with the …

Source: NBC

US economy grew at 2.1% rate in fourth quarter

CNBC


The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the …

March 26, 2020 - 2:00 pm Economy, Jobs, Regulatory, Uncategorized
Exclusive 360 Energy Expert Network Video Interview: The Port of Corpus Christi seen trouble before, and is open for business.

Exclusive 360 Energy Expert Network Video Interview: The Port of Corpus Christi seen trouble before, and is open for business.

The Port of Corpus Christi in the western Gulf of Mexico is one of key components in the life blood for imports and exports in the United States. They the 2nd in tonnage,  and the largest port in revenue in

Source: Houston Chronicle

Stocks jump, heading for first back-to-back gain in 6 weeks

Houston Chronicle


NEW YORK (AP) — Stocks are adding to their gains Wednesday as Congress moves closer to passing a $2 trillion package to help the economy deal with damage caused by the coronavirus.

The S&P 500 was up 4.7% …

Source: Reuters

Oil prices fall as demand woes eclipse U.S. stimulus

Reuters


LONDON  – Oil prices fell on Wednesday as faltering fuel demand because of the coronavirus pandemic outweighed a massive pending U.S. economic stimulus package.

Brent crude LCOc1 was down 49 cents, or 1.8%, at $26.66 a barrel at 1400 …

Exclusive 360 Energy Expert Video Interview: Enverus is a real asset to the energy sector in regular times, let alone in a pandemic.

Exclusive 360 Energy Expert Video Interview: Enverus is a real asset to the energy sector in regular times, let alone in a pandemic.

Enverus three main business units include data, business automation, and trading and risk. They have over 1,700 employees, 6,000 customers across 50 countries. They are the oil and gas industry's leading data, and insights company. They built their base on

Source: Reuters

Oil jumps 3% towards $28 on Fed steps to support economy

Reuters


LONDON – Oil jumped 3% on Tuesday towards $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid …

March 24, 2020 - 9:30 am Closing Bell Story‎, Crude Oil News, Economy, Energy News
Source: Houston Chronicle

Oil drifts lower as hopes for OPEC-Texas production truce fade

Houston Chronicle


Oil dropped toward the lowest level since 2003 as prospects for a deal between OPEC and Texas to limit production appeared to fade, while a U.S. coronavirus rescue package ran into political delays.

Futures in London fell around …

March 23, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Economy, Energy News
The 360 Digital Closing Bell Week Ahead – 3/23/2020

The 360 Digital Closing Bell Week Ahead – 3/23/2020

The 360 Digital Bell Week Ahead Report. Michael Tanner, the Host of the closing bell, goes over what to expect this week. We cover how the oil and gas market got to this point and what is just on the

Coronavirus crisis could slow the rate of energy transition, Rystad says

Coronavirus crisis could slow the rate of energy transition, Rystad says

Energy Today

Oil & Gas 360 Publishers Note: Here is one you would not have seen coming last year. The fast moving renewable market being slowed down, and coal production going up. Key takeaway from this article: China’s coal mines

Is Depression-Era Production Regulation What OPEC Really Wants To See?

Is Depression-Era Production Regulation What OPEC Really Wants To See?

Journal of Petroleum Technology


Oil & Gas Publishers Note: Excellent piece by Steve Rassenfoss. Our host, Michael Tanner, on the 360 Digital Closing Bell reported on the Texas Railroad Commission has been invited to the next OPEC meeting. This is

Source: CNBC

Saudi Arabia announces $32 billion in emergency funds to mitigate oil, coronavirus impact

CNBC


Saudi Arabia’s government unveiled stimulus measures amounting to 120 Saudi billion riyals ($32 billion) on Friday to support an economy hit by the double blow of the coronavirus crisis and dramatically lower oil prices.

The sum includes Riyadh’s 50

March 20, 2020 - 1:00 pm Crude Oil News, Economy, Energy News, International
Source: Houston Chronicle

Texas congressmen ask Interior to cut Gulf oil, gas royalties

Houston Chronicle


WASHINGTON – Texas congressmen are asking the Interior Secretary to reduce royalty collections on oil and natural gas produced in the Gulf of Mexico.

 

The combined effect of the coronavirus pandemic and the price war led by …

March 20, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Economy, Energy News
Source: Barron's

The Price of Oil Jumped Because the U.S. Might Buy Huge Amounts of It

Barron’s


Oil prices rose Tuesday morning following comments by Treasury Secretary Steven Mnuchin that the U.S. needs to buy even more oil at today’s low prices. Government purchases of huge amounts of oil would essentially equate to a bailout of …

Source: Houston Chronicle

Oil rollercoaster has crude rebounding after 18-year low

Houston Chronicle


Oil rebounded after plunging to the lowest level in 18 years as policy makers across the globe try to strengthen economies against the impact of the coronavirus pandemic.

Futures rose as much as 18% in New York, the …

Source: Reuters

Oil jumps after three-day slump but virus and oversupply still weigh

Reuters


Oil prices bounced nearly 7% on Thursday after a three-day selloff drove them to their lowest in almost two decades as demand plummeted due to the coronavirus and supplies surged in a fight for market share between Russia and …

March 19, 2020 - 9:00 am Commodity Pricing, Crude Oil News, Economy, Energy News
Source: Houston Chronicle

Halliburton to furlough 3,500 employees in Houston amid falling oil prices

Houston Chronicle


Oilfield service giant Halliburton plans to furlough about 3,500 employees of its Houston headquarters for the next two months amid grim market conditions that include four year-low oil prices and the coronavirus outbreak.

Employees at the company’s North …

Source: Reuters

U.S. crude hits 18-year low as lockdowns spread

Reuters


LONDON  – Oil prices fell for a third session on Wednesday, with U.S. crude futures tumbling to an 18-year low and Brent hitting a more than 16-year low as travel and social lockdowns to counter the coronavirus raised prospect …

Capitol Report: Here are the industries that could get coronavirus aid from the U.S. government

Capitol Report: Here are the industries that could get coronavirus aid from the U.S. government

Democratic and Republican lawmakers also are working on broad stimulus measures that could help other industries facing financial problems as well as the workers they employ. Senate Majority Leader Mitch McConnell on Tuesday said the Senate will pass a new …

Source: CNBC

Oil prices could hit teens in coming weeks as markets crater over coronavirus and price war

CNBC


An end to the oil price plunge is nowhere in sight, energy experts say, as futures of international benchmark Brent crude fell below $30 a barrel Monday for the first time since 2016. That’s a stunning 54% drop year-to-date.…

Source: CNBC

As oil prices tank, BP CFO warns demand could be negative in 2020

CNBC


Demand for oil will likely be negative in 2020, adding further downward pressure to plummeting prices, according to BP CFO Brian Gilvary.

Around the time of its earnings report in early February, the energy giant anticipated that demand would …

Source: Reuters

U.S. could start buying crude for Strategic Petroleum Reserve in as soon as two weeks

Reuters


WASHINGTON – The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve in as soon as two weeks and fill it in several months, an Energy Department source said on Monday.

President Donald Trump …

Europe Markets: European equities log worst week since 2008 as coronavirus worries ramp up

Europe Markets: European equities log worst week since 2008 as coronavirus worries ramp up

European stocks rose Friday, rebounding from an historic losing day Thursday, as more government support appeared for hard-hit economies in the region, while several exchanges banned short selling of hard-hit Spanish and Italian equities.

March 14, 2020 - 7:36 am Economy, International, Press Releases
Source: Reuters

The losers — and even bigger losers — of an oil price war between Saudi Arabia and Russia

CNBC


An intensifying oil price war between Saudi Arabia and Russia has created “very painful” market conditions for the world’s largest crude producers, analysts have told CNBC, with many braced for sliding revenues over the coming months.

International benchmark Brent

Devon joins shale firms to cut spending as oil hovers at $30

Devon joins shale firms to cut spending as oil hovers at $30

Reuters


U.S. oil and gas producer Devon Energy Corp on Thursday cut its 2020 spending forecast by $500 million or nearly 30% to about $1.3 billion, joining its shale peers as the industry battles a slump in crude prices. Shale …