This could help PTOI t: The Big Story In a N
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Posted On: 05/29/2018 9:36:55 AM
This could help PTOI t:
The Big Story
In a Nutshell: Oil prices plunged after it was reported that Russia and the OPEC nations could increase oil production. Last year, this group reduced production in response to lower prices, and it looks like they could reverse that decision at their June meeting. As a result, U.S. crude prices fell 4%, continuing a three-day decline after prices set a three-year high on Monday. An increase in production means lower oil prices, which hurts the profits of energy companies but helps the profitability of airlines. Exxon Mobil fell 2% and Chevron fell 3.6% on Friday. Delta Airlines and American Airlines both climbed nearly 3% on the news.
The Payoff: Don’t expect low oil prices to last, despite threats of increased production from Russia and the OPEC nations. In a recent interview, oil expert Matt Badiali predicted that prices will hit $100 in the next six to 12 months, primarily due to the terminal decline in oil production from Venezuela and sanctions on Iran. Badiali suggests investors look at the previously mentioned Exxon Mobil (NYSE: XOM), Chevron (NYSE: CVX), and Royal Dutch Shell (NYSE: RDS-A) to profit from the coming surge in oil prices.
https://mail.aol.com/webmail-std/en-us/Displa...suite=true
The Big Story
In a Nutshell: Oil prices plunged after it was reported that Russia and the OPEC nations could increase oil production. Last year, this group reduced production in response to lower prices, and it looks like they could reverse that decision at their June meeting. As a result, U.S. crude prices fell 4%, continuing a three-day decline after prices set a three-year high on Monday. An increase in production means lower oil prices, which hurts the profits of energy companies but helps the profitability of airlines. Exxon Mobil fell 2% and Chevron fell 3.6% on Friday. Delta Airlines and American Airlines both climbed nearly 3% on the news.
The Payoff: Don’t expect low oil prices to last, despite threats of increased production from Russia and the OPEC nations. In a recent interview, oil expert Matt Badiali predicted that prices will hit $100 in the next six to 12 months, primarily due to the terminal decline in oil production from Venezuela and sanctions on Iran. Badiali suggests investors look at the previously mentioned Exxon Mobil (NYSE: XOM), Chevron (NYSE: CVX), and Royal Dutch Shell (NYSE: RDS-A) to profit from the coming surge in oil prices.
https://mail.aol.com/webmail-std/en-us/Displa...suite=true
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