• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 9 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Hopes Are Dashed For International Oil Companies In North Iraq
  • 9 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 16 hours The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 4 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 25 mins "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 4 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 1 day The Federal Reserve and Money...Aspects which are not widely known
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Editorial Dept

Editorial Dept

More Info

Companies Best-Positioned For An Oil Price Rebound

The U.S. oil and gas rig count continues to fall – having plummeted by 74 rigs for the week ending on January 16 – in a clear sign that the contraction will likely persist for some time.

A fresh wave of layoffs and spending cuts were announced this past week. Baker Hughes (NYSE: BHI) said that it would slash 7,000 from its payrolls, for example.

Oil Prices Go Down…And Back Up

As rigs and roughnecks disappear from the oil patch, production will decline. However, it will not decline right away – there tends to be several month lag period between a reduced rig count and slower production. That period of time could be about two to five months, meaning U.S. oil production could begin to feel the pinch in second quarter.

There are a series of other signs that would indicate that oil prices are bottoming out. Although one data point doesn’t confirm a trend, U.S. oil production fell by 6,000 barrels per day during the second week of January. More cutbacks will eventually correct a supply glut.

OPEC’s Secretary-General spoke at the Davos World Economic Forum and said that he thinks prices will stabilize in the $45 to $50 range and then rebound. OPEC is also predicting that low oil prices will stoke demand, which should send prices back up. Early signs from the U.S. reaffirm this view – U.S. gasoline demand is at an all-time high.

Capitalizing on the Rebound

There is a huge opportunity for investors…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News