crude

There’s no question that OPEC’s recent talk of a crude oil production cut is good news for oil investors. However, the latest report from the organization suggests that the global oil industry is still a long way from balanced. A new OPEC report revealed some discouraging figures and...

Canaccord Genuity said in a research note on Tuesday that it sees 38 percent production growth for Diamondback Energy Inc (NASDAQ: FANG) in 2017 to 58.4 million barrels per of oil equivalents per day, or MBoe/day, which is at the high end of the company's guidance range. The firm premised the...

Natural gas prices are on a tear, following up on last week's strong advance. Prices have been higher for five straight sessions and are now at their highest level in about 22 months. The front-month natural gas futures are currently at $3.265 per million British thermal units on the NYMEX. This...

Noble Midstream Partners LP (NYSE: NBLX), which recently went public and is the subsidiary of Noble Energy, Inc. (NYSE: NBL), has become the darling of the analysts' community, with most of them upbeat on the prospects of the company. Since listing at $26.50 on September 15, 2016, a premium to the...

Goldman Sachs remains bullish on Marathon Petroleum Corp (NYSE: MPC) on asset quality, midstream growth and cash generation from its Speedway retail unit. "In our view, MPC offers premium quality refining assets on the Gulf Coast and the Mid-Con, with high levels of complexity and crude optionality...

WTI crude oil prices have surged more than 7 percent in the past two days following surprise news of an OPEC production cut deal. On Wednesday, OPEC agreed to cut global crude oil production from 33.4 million barrels per day to an anticipated range of 32.5–33 million barrels per day. While...

Things just keep getting worse for the Global X MSCI Nigeria ETF (Global X Funds (NYSE: NGE)), the lone exchange-traded fund dedicated to Nigerian stocks. Inflation, Currency Woes Weigh On Nigeria As has been previously noted in this space, NGE has been struggling this year even as oil prices and...

Argus reaffirmed its Hold rating on the shares of Transocean LTD (NYSE: RIG), premising the action on its concerns that the company may be more exposed than peers to deteriorating conditions in the offshore drilling markets. Offshore: Flavor Of Town The firm noted that there has been a secular...

Saudi Arabia's oil policy has remained consistent over the years: Pump as much oil as possible to flood the market and sell at any cost. There were many reasons for this policy to stay in place, perhaps the most notable of which is every one barrel of oil the country sells at any price is one less...

Goldman Sachs said in a research note released on Tuesday that the oil supply-demand balance is weaker than previously expected. The deduction is based on upside surprises to the third quarter production and greater clarity on new project delivery into the year-end. At last check, the WTI grade of...

Goldman Sachs Group upgraded its coverage on Midstreams from Neutral to Attractive, citing improved fundamentals. Analysts Theodore Durbin and Jerren Holde see return of volume growth in 2017 and further growth in NGL, oil and natural gas helping to generate increased margin. The brokerage picked...

Argus expects Helmerich & Payne, Inc. (NYSE: HP) to witness lower rig utilization in the remaining period of the current year. Aside from that, the company is also focusing its dependence on low-price spot contracts instead of higher-priced term contracts. As a result, its revenue is likely to...

The International Energy Agency (IEA) put a damper on the bullish case for oil in its latest report. The agency said in its latest monthly report on Wednesday that it now expects oil stockpiles to continue accumulating through 2017, which will make the fourth consecutive year in which the world...

Anadarko Petroleum Corporation (NYSE: APC) has bought assets in the Gulf of Mexico (GoM) for $2 billion in cash and decommissioning obligation. Morgan Stanley’s Evan Calio views this transaction as “highly accretive.” Calio maintains an Overweight rating on the company, while...

ConocoPhillips (NYSE: COP) has been one of the sector's most aggressive cost cutters since the slump in oil prices, and Jefferies acknowledged it with an upgrade to Hold from Underperform. ConocoPhillips cut its capex by 67 percent from 2014 to $5.7 billion, and slashed its operating costs by $2.9...