United States Oil ETF

The Russian ruble (ERUS) tends to move in line with crude oil prices (USO) (UCO).

The US oil rig count extended to 765 in the week ending July 14, 2017—a gain of two rigs compared to the previous week.

Latin American (ILF) equities in June 2017 remained steady amid the political turmoil among its member nations.

Qatar’s (QAT) economy continued to grow in 1Q17 amid improved oil prices since 2Q16. But more recently, oil prices have hit a downtrend.

Annual consumer inflation in Colombia (GXG) has dropped for 12 consecutive months as of June 2017.

On June 23–June 30, the US oil rig count fell by two to 756. The fall was marginal, but it was the first fall after rising for 23 consecutive weeks.

What is the operating netback? The operating netback (also referred as production netback) is oil and gas revenue realized per boe (barrel of oil equivalent) after all costs to bring one boe to the market are subtracted from the realized price. The operating netback is derived by subtracting production expenses (or field operating expenses), production taxes, […]

OPEC’s production cut compliance was at 92% in June 2017. Lower compliance from OPEC members and Russia could pressure crude oil prices.

Market surveys project that Libya’s crude oil production is near 1 MMbpd—the highest level in three years. High production could pressure crude oil prices.

Qatar was expected to grow at a faster pace in 2017. However, economic sanctions by its neighbors are expected to impact its economic activity in 2017.

According to Peru’s Ministry of Economy and Finance, the El Niño–related infrastructure damages were close to $4 billion.

The Markit Russia manufacturing PMI increased to 52.4 in May 2017 compared to 50.8 in April 2017.

A recent survey estimated that inventories at Cushing could have fallen on June 2–9, 2017. Inventories at Cushing fell for the seventh time in ten weeks.

Between May 30 and June 6, 2017, the US dollar (UUP) (USDU) (UDN) fell 0.7%, and crude oil (USO) (OIIL) July futures fell 3%.

The EIA estimates that US gasoline consumption averaged 9,600,000 bpd (barrels per day) in May 2017—0.16 MMbpd higher than the same period in 2016.

US crude oil (USO) (IXC) (IYE) (PXI) prices are near their one-month low. Lower crude oil prices have a negative impact on oil producers’ earnings.

In the trailing week, the US dollar fell 0.1%. Despite a fall in the US dollar, crude oil July futures fell 3.5% between May 23 and May 30, 2017.

India’s trade gap increased 173.5% on a year-over-year basis to ~$13.3 billion in April 2017, beating the market’s expectations of an ~$12.8 billion gap.

For 1Q17, Devon Energy (DVN) reported total production of 563 MBoepd, which is ~18% lower when compared with 1Q16.

2016 proved fruitful for the energy sector (XLE) with an improvement in oil prices (USO) (USL).

Russia’s central bank recently lowered its key interest rate by half a percentage point to 9.25% in April 2017.

For the week ending April 14, 2017, the EIA reported that Cushing crude oil inventories fell by 0.8 MMbbls (million barrels) to 68.6 MMbbls.

In the last two weeks, the stock of ConocoPhillips (COP), a crude oil (USO) and natural gas (UNG) producer, has outperformed crude oil prices.

According to the EIA’s (US Energy Information Administration) report on January 18, 2017, US crude oil inventories rose ~2.35 MMbbls (million barrels) for the week ended January 13, 2017.

On December 13, Callon Petroleum announced that it had agreed to acquire certain acreage positions and oil- and gas-producing properties from Ameredev.

After the announcement of the US election results, the 10-Year US Breakeven Inflation Rate showed an uptick. Goldman Sachs has advised investors to go long on the rate.

According to the EIA’s (U.S. Energy Information Administration) report on September 14, 2016, US crude oil inventories fell 0.6 MMbbls (million barrels) for the week ending September 9.

According to the EIA’s report on September 8, 2016, US crude oil inventories fell by 14.5 MMbbls for the week ended on September 2, 2016.

Visa (V) reported total transactions of $30.2 billion in fiscal 3Q16, compared to $27 billion in fiscal 3Q15—a growth of 11.8% year-over-year.

According to the July 20, 2016, U.S. Energy Information Administration report, US crude oil inventories declined by 2.3 MMbbls for the week ended July 15, 2016.

Between Jan 2014 and September 2015, the break-even rate was higher than the CPI inflation rate, as markets were surprised by the sudden dip in oil (USO) prices.

According to the EIA’s report on July 13, 2016, US crude oil inventories fell by 2.5 MMbbls (million barrels) in the week ended July 8, 2016.

According to the EIA’s report on June 22, 2016, US crude oil inventories fell by 0.92 MMbbls (million barrels) for the week ending June 17, 2016.

The Alerian MLP ETF (AMLP) outperformed other energy ETFs from June 9–16, 2016. Falling crude oil has less of an impact on midstream companies.

Gold (GLD) can be considered an indicator of economic fear and inflation expectations. Driven by these fears, gold gains during equity market turmoil.

Historically, crude oil prices and the S&P 500 index have influenced each other.

With the recent rally in crude oil prices, Newfield Exploration (NFX) stock has been on an uptrend. On March 1, 2016, it crossed its 50-day moving average for the first time in 2016.

A rise in the ratio can be correlated the corresponding rise in gold prices. An increase in the ratio indicates that gold is more expensive than crude oil.

The EIA estimates the global crude oil supply and demand gap to average 1 MMbpd in 2016 and 0.2 MMbpd in 2017. It reported that global consumption should grow 1.2 MMbpd in 2016 and 1.5 MMbpd in 2017.

Chinese energy companies CNOOC, China Petroleum & Chemical, and PetroChina Company have fallen below their 100-day and 20-day moving averages.

OPEC countries control 40% of global crude oil production and have around 81% of global crude oil reserves, as of 2014.

The benchmark US Gulf Coast 3:2:1 crack spread fell ~12.50% last week. It hit ~$13.28 per barrel on Friday, November 13, 2015.

When the Fed refers to “inflation,” it’s talking about the rate of change in PCE (personal consumption expenditure) inflation. This is the price index for PCE.

WTI crude oil prices closed 1.83% higher on a weekly basis at $46.05 per barrel in the week ended September 4. Brent crude fell by 0.87% on a weekly basis, closing at $49.61 on September 4.

Business fixed investment represents business spending on plants, equipment, and machines. It forms an important component in the calculation of economic output.

The Energy Select Sector SPDR ETF (XLE) rose 0.22% in the week to June 26. The ETF tracks a diverse group of ~45 of the largest US energy stocks.

Job creation and GDP growth go hand-in-hand. The job markets and the economy tend to move in a similar pattern.

Russia’s sovereign credit rating now stands on par with countries such as Turkey and Indonesia. The oil price crisis isn’t helping matters.