• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 2 hours New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 1 min Permafrost Melting Will Cost Us $70 Trillion
  • 2 hours UNCONFIRMED : US airstrikes target 32 oil tankers near Syria’s Deir al-Zor
  • 11 hours Russia To Start Deliveries Of S-400 To Turkey In July
  • 11 hours Occidental Offers To Buy Anadarko In $57 Billion Deal, Topping Chevron
  • 7 hours Nothing Better than Li-Ion on the Horizon
  • 11 hours Facebook Analysts Expect Earnings Will Reinforce Rebound
  • 1 day Countries with the most oil and where they're selling it
  • 3 hours ..
  • 7 hours How many drilling sites are left in the Permian?
  • 1 day Section 232 Uranium
  • 1 day China To Promote Using Wind Energy To Power Heating

Oil Prices Rebound As Market Gains Momentum

Oil Export

Friday July 7, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Oil stocks down in 2017

(Click to enlarge)

- The MSCI World Energy Sector Index, which tracks 90 oil and gas companies, is set to post a second consecutive quarter of declines, according to Bloomberg.

- The 90 companies have lost a combined $115 billion in market value since April, a shocking deterioration that has corresponded with the new bear market for oil.

- The weak figures also show that the industry is entirely hostage to the price of oil – the severe spending cuts and efficiency gains aren’t enough to offset a 10 to 20 percent drop in oil prices.

- Only 17 of the 90 companies in the index saw their share prices rise this quarter.

2. Short selling likely peaked

(Click to enlarge)

- The bear market for oil over the past month came as traders and speculators staked out an incredibly pessimistic position in oil futures.

- Short bets rose to the highest level in a nearly a year according to data for the week ending on June 27.

- But those bets likely ran their course as the increase came close to leveling off. Data is reported on a lag so it is still unclear what is currently…




Oilprice - The No. 1 Source for Oil & Energy News