Two months we first suggested that OPEC may be fabricating data about its production cuts - and certainly overstating the "success" of its Vienna production cut deal - by looking at the rising Chinese.. Zero Hedge
The U.S. economy grew at its weakest pace in three years in the first quarter. Consumer spending barely increased and businesses invested less on inventories during the time period. The news is a.. Source: Wochit Business -
Global energy markets are heading to a rebalancing in the next years after oil prices fell to historic lows due to oversupply, Qatar's energy minister says, praising OPEC members for their.. Source: news across the world -
Phone companies, banks and materials stocks were among big decliners on Friday as stocks closed lower. Technology stocks gained the most, while health care and energy also bucked the broader market.. TVNewsCheck
U.S. stock indexes ended modestly lower Friday, narrowly missing a fourth record-high close this week for the Nasdaq composite index. Phone companies, banks and materials stocks were among the big.. Seattle Times
From the May 2016 lows, the number of US oil rig counts have only declined 3 times and this week was no exception*. Up for its 15th week in a row (+9 to 697), its highest level since April 2015*, the.. Zero Hedge
The US oil-rig count increased by nine to 697 this week, according to Baker Hughes.
The rise demonstrated again that explorers continue to take advantage of higher oil prices. Schlumberger and.. Business Insider
Authored by James Bambino via Platts blog,
This is the third and final segment of a three-part look at why oil prices have failed to rally despite OPEC’s best efforts at managing supply cuts. Not.. Zero Hedge
Expectedly positive first quarter earnings and a supportive crude price had New York listed oil majors Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) rising in Friday morning’s.. Proactive Investors
The major U.S. stock indexes were mostly lower in early trading Friday as investors sized up the latest batch of company earnings. Real estate stocks lagged the most, while energy companies led the.. SeattlePI.com Also reported by •Seattle Times
Cutting costs and higher crude prices helped lift Chevron Corp's (NYSE: CVX) profits, which beat expectations. Shares in the energy giant, which operates in 180 countries, gushed 1.3% higher at $106.88.. Proactive Investors
The Russian ruble is climbing after the Central Bank of Russia cut rates by more than expected.
The petro-currency is up by 0.3% at 56.7957 per dollar as of 8:07 a.m. ET after climbing by 0.5%.. Business Insider
Despite yesterday's whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, and brought Jeff Bezos "this close" to overtaking Bill Gates as the world's richest man,.. Zero Hedge