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Jim Cramer - 1 it's - 1 Brent - 1 Coterra - 1 Eli Lilly - 1 they'd - 1 Jim - 1 Jim Cramer's - 1
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☆ Oil prices are at 10-month highs. Here's what Cramer thinks it means for two energy stocks
  + stars: | 2023-09-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com   time to read: +6 min
The rise in oil prices largely boils down to a mismatch between supply and demand. The current backdrop may keep oil prices supported through the fall, according to the U.S. Energy Information Administration's short-term outlook published Tuesday . If higher oil prices – and by extension fuel prices – are sustained in the coming months, the investment implications may be somewhat mixed. For much of this year, the downward trend in oil prices contributed to lower year-over-year inflation readings . Shares of Pioneer "should be much higher," he said, noting the potential for more robust capital returns due to higher oil prices.
Persons: Jim Cramer, it's, Brent, Coterra, Eli Lilly, they'd, Jim, Jim Cramer's, Marli Miller Organizations: Natural Resources, Coterra Energy, West Texas, Brent, Nvidia, Organization for Petroleum Exporting, U.S . Energy, Saudi, U.S, Labor, Fed, Exxon Mobil, Club, CNBC, Universal, Getty Locations: U.S, Saudi Arabia, Russia, OPEC, Ukraine, Plains, Wyoming
☆ Aramco chief blames recessionary signals for low oil price, says 'optimistic' about future of demand
  + stars: | 2023-07-05 | by ( Ruxandra Iordache | ) www.cnbc.com   time to read: +1 min
The chief executive of Saudi Arabian oil giant Aramco on Wednesday attributed the ongoing depression of oil prices to recessionary fears and economic headwinds, painting a more optimistic landscape for demand to come. Global crude oil prices have stayed tightly rage-bound just above the $75-per-barrel threshold despite a spate of additional voluntary cuts that some OPEC members are implementing until the end of 2024. On Monday, heavyweights Saudi Arabia and Russia — who lead the group of OPEC countries and its allies, known as OPEC+ — crowed this effort with pledges for additional declines. Riyadh intends to extend a 1-million-barrel-per-day voluntary cut initially declared for July into August, while Moscow has committed to lower its exports by 500,000 barrels per day next month. Yet prices for Brent futures with September expiry were just $76.76 per barrel at 2:28 p.m. London time, up by 51 cents per barrel from the previous settlement.
Persons: Aramco's Amin Nasser, Russia — Organizations: Organization for Petroleum Exporting, CNBC, Brent Locations: Saudi, Aramco, Vienna, Saudi Arabia, Russia, OPEC, Riyadh, Moscow, London
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