Reuters Bank of America (BofA) Global Research has lifted its oil price forecast for this year and next as demand recovers from coronavirus-linked shutdowns, the OPEC+ output cut deal curtails supply, and producers slash capital expenditure. The bank now sees Brent crude oil averaging $43.70 per barrel in 2020, up from a previous estimate of $37. In 2021 and 2022,
CNBC Bank of America announced Tuesday that it will commit $1 billion over four years to help local communities grapple with the widened economic and racial inequality caused by the Covid-19 outbreak. The bank said in a press release that the program will focus on “assisting people and communities of color that have experienced a greater impact from the health
CNBC The U.S. economy is beginning to recover from shutdowns tied to the coronavirus pandemic, Bank of America CEO Brian Moynihan told CNBC on Thursday. Moynihan cited consumer spending figures from the millions of households using his lender’s credit and debit cards: While transactions collapsed by about 30% in April, it was down by only 5% to 10% in May. “You’re starting to see
CNBC Stocks have become detached from reality due to recent interventions from central banks into the bond markets, according to analysts at Bank of America. In a research note Friday, the Bank of America Securities division highlighted the question of why the stock market is so divorced from reality as one of the most frequently asked by investors. Despite the economic
CNBC Professional investors are heading for the sidelines while demanding that companies stop using their cash to buy back stocks and instead improve their balance sheets. The Bank of America Global Fund Manager survey for April reflects the large level of caution seen in the markets since efforts to stop the coronavirus have shut down large portions of the world’s
UPDATE: Venture Global Announces Final Investment Decision and Financial Close for Calcasieu Pass LNG… Username or E-mail Password Remember Me Forgot Password
By Tyler Losier, Energy Reporter, Oil & Gas 360 Proceeds from Venture Global’s debt and equity financing will fully fund the construction and commissioning of its Calcasieu Pass LNG facility Venture Global LNG Inc., headquartered in Arlington, Virginia, has closed on the project financing for its Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, Louisiana. The proceeds
From CNBC Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch. “While we retain our $60 a barrel Brent forecast for next year, we admit that a Chinese decision to reinitiate Iran crude purchases
By Tyler Losier, Energy Reporter, Oil & Gas 360 Michael J. Stevens steps down as CFO, Correne S. Loeffler selected as replacement Whiting Petroleum Corporation (stock ticker: WLL), a Denver-based independent E&P with an oil-focused asset base, has named Correne S. Loeffler as Chief Financial Officer, effective August 1. She will replace Michael J. Stevens, who is stepping down after
