United States Oil Fund Lp ETF News

The run in oil around the turn of the year has been impressive and speaks to structural undersupply rather than the modest surplus that OPEC has forecast. We''re awaiting the EIA STEO today, which will be the first forecasts of 2023 US production. That''s generally not a market mover but there''s not m

The number of active drilling rigs in the United States rose by 2 this week, keeping the total rig count at 588, as oil prices remain strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus amid several oil disruptions around the globe, including in Libya, Ecuador, and Kazahkstan. Last week''s count compared with an unchanged rig count of 586 during the previous week. Baker Hughes reported the total active rig figure was 228 rigs higher than the rig count this time in 2021. Oil-directed rigs were up

White House Blasts "Crazy" Russia-China Statements Accusing US Of ''Color Revolution'' In Kazakhstan Unlike most instances where there''s crisis or conflicts near Russia''s borders, the White House has been slow to respond to fast-moving events in Kazakhstan, only saying that it questions the "legitimacy" of the Kremlin sending troops to the country to help restore order under the Collective Security Treaty Organization (CSTO). "We are closely monitoring reports that the Collective Security Treaty Organization have dispatched its collective peacekeeping forces to Kazakhstan," press secretary Jen Psaki said . "We have questions about the nature of this request and whether it has it was a legitimate invitation or not. We dont know at this point." The day prior she had denounced as "crazy" reports out of Russian media that the US and its allies could be stoking the uprising , unrest and destruction - which has seen a presidential residence and multiple government buildings torched, and widespread looting, after dozens of deaths on both the police and protest side.

Reports coming from the Saudi Arabia-led military coalition show that an unidentified pirate cr

After strengthening last year on the back of higher oil prices and rising stock markets, economists at Nordea believe the Norwegian krone will move br

ExxonMobil (NYSE: XOM) has announced that it has discovered two oil deposits at Fangtooth-1 and Lau

The price action suggests there is enough upside momentum to extend the rally into the October 26 contract high at $80.72.

Mexicos decision to halve oil exports this year and suspend them all together in 2023 will affect its oil hedgethe biggest in the worldsubstantially, pushing oil prices higher. Bloomberg reports that thanks to its hedge, Mexico is one of the biggest sellers of oil contracts for any given year ahead. However, the hedge is based on its oil exports, and when, or if, these stop, the hedge will shrink, adding volatility and upside potential to longer-dated oil contracts. The report quotes analysts and traders who explain that Mexicos

The operator of Kazakhstan''s highest-producing oil field, Tengiz, said Jan. 6 that a logistics issue

https://www.investing.com/analysis/the-energy-report-fed-signals-strong-oil-demand-200613868

Crude Oil Higher; Kazakhstan Turmoil Threatens Supply

Iraq produced 4.23 million barrels per day (bpd) of oil in December, up by 17,000 bpd from November, according to production data from state-owned marketer SOMO seen by Reuters on Thursday.

Brent crude futures continued their upward trend in European morning trading Jan. 6, moving further

The increase in OPEC''s oil output in December has again undershot the rise planned under a deal with allies, a Reuters survey found on Thursday, highlighting capacity constraints that are limiting supply as global demand recovers from the pandemic.