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☆ Russia replaces Iraq as top oil supplier to India in Nov
▼ + stars: | 2022-12-14 | by ( Nidhi Verma | ) www.reuters.com time to read: +2 min

India's oil imports from Russia rose for the fifth straight month, totaling 908,000 barrels per day (bpd) in November, up 4% from October, the data showed. The price cap plan calls for G7 countries to deny insurance, finance, brokering, navigation, and other services to oil cargoes priced above the price cap on crude and oil products. Russian oil accounted for about 23% of India's overall import of about 4 million bpd oil in November, the data showed. India, which rarely used to buy Russian oil because of costly logistics, has emerged as Russia's second biggest oil client after China as refiners snap up discounted crude shunned by Western nations since the February invasion of Ukraine. India's oil imports from various regions India's monthly oil imports from various regionsIndia's oil imports from various regionsDuring April-November, the first eight months of this fiscal year, Iraq continued to be the largest oil supplier to India followed by Saudi Arabia and Russia, which has knocked down UAE to the fourth position.

☆ Saudi energy minister sees no clear results yet from Russia price cap
▼ + stars: | 2022-12-11 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

[1/2] Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. "These tools were created for political purposes and it is not clear yet whether they can achieve these political purposes," he said, referring to the price cap. The OPEC+ alliance decision to cut production by 2 million barrels per day on Oct. 5 was proven to be the correct one when recent developments are taken into consideration, he said. Prince Abdulaziz said the alliance would continue to focus on market stability in the year ahead. He also said he insisted that every OPEC+ alliance member take part in decision-making.

☆ OPEC chief says OPEC+ plays instrumental role in supporting market stability
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Dec 10 (Reuters) - The OPEC+ alliance plays an instrumental role in supporting market stability, OPEC Secretary General Haitham Al Ghais said on the sixth anniversary of the group's formation. "Six years later, the framework continues to play an instrumental role in supporting market stability, which is essential for growth and development, as well as attracting the necessary investment to ensure energy security," Al Ghais said in a statement. OPEC+, which groups together the Organization of Petroleum Exporting Countries (OPEC) and allies including Russia, last met on Dec. 4. Reporting by Maha El Dahan and Moaz Abd-Alaziz; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Following Monday's trade, Jim Cramer's Charitable Trust will own 2,225 shares of Halliburton, decreasing its weighting in the portfolio to about 3% from 3.38%. Energy stocks are early outperformers Monday, trading slightly higher at the initial open despite broad weakness in equity markets. West Texas Intermediate (WTI) crude — the U.S. oil benchmark — has climbed more than 5% over the past week, trading at roughly $81 a barrel in midmorning trading Monday. The latter stock in particular has climbed significantly over the past few months, rallying from roughly $25 a share in late September, to $38.45 a share as of Monday morning. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Saudi, Iraqi energy ministers meet, review oil markets
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - The energy ministers of Saudi Arabia and Iraq met on Thursday and stressed the importance of adhering to OPEC+ output cuts that last until the end of 2023, the Saudi energy ministry said in a statement on Friday. Iraq's energy minister Hayan Abdel-Ghani met Saudi energy minister Prince Abdulaziz bin Salman on a visit to the kingdom which began on Wednesday. In its last meeting on Oct. 5 an output cut of 2 million barrels a day was agreed. Prince Abdulaziz said earlier this week the group remains ready to take further measures if needed to balance supply and demand. Reporting By Maha El Dahan, Writing by Moaz Abd-Alaziz; Editing by Muralikumar Anantharaman and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ How we think about our oil stocks in light of Monday's wild swing in crude prices
▼ + stars: | 2022-11-21 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

The October production cut was seen, at the time, as an attempt to shore up tumbling oil prices, and generally speaking it worked for a little while. However, since the first week of November, crude prices had been trending lower. The Club take Our energy stocks have struggled in November alongside the decline in oil. Our outlook is predicated on two developments that would boost oil prices. The first is the White House's announcement in late October that it would begin to replenish the Strategic Petroleum Reserve when oil prices are at or below $67 to $72 per barrel.

☆ Oil prices fall as Druzhba pipeline resumes flows
▼ + stars: | 2022-11-16 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

BENGALURU (Reuters) -Oil prices fell by more than a dollar on Wednesday as Russian oil shipments via the Druzhba pipeline to Hungary restarted and rising COVID-19 cases in China weighed on sentiment. Prices slid into negative territory after Hungarian Foreign Minister Peter Szijjarto said that flows through the Druzhba oil pipeline from Russia had resumed following a brief outage. Supply to parts of Eastern and Central Europe via a section of the pipeline were temporarily suspended on Tuesday for technical reasons, according to oil pipeline operators in Hungary and Slovakia. The Energy Information Administration said U.S. crude inventories fell by 5.4 million barrels last week, compared with expectations for a 440,000-barrel drop. “Oil demand growth in the country is being hampered by its unyielding faith in a zero-tolerance COVID-19 policy and persistent economic weakness,” PVM Oil analyst Stephen Brennock said.

☆ Buy these 7 stocks now for reliable income as high inflation stays 'alive and well' in 2023, says the manager of a top-8% dividend-focused fund
▼ + stars: | 2022-11-15 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are seven dividend stocks to buy now that will provide income in any setting. On the other side of the valuation spectrum are energy stocks. "From a valuation standpoint, you can't get much cheaper than the energy sector comparing it to the rest of the S&P 500 sectors," Morey said. Energy names will be a strong bet if inflation persists in the coming year, as Morey suspects. 7 top dividend stocks to buy nowBelow are the seven dividend stocks that Morey is bullish on right now from among his sector preferences, along with the ticker, market capitalization, dividend yield, and investment thesis for each.

Following Wednesday's trade, Jim Cramer's Charitable Trust will own 125 shares of PXD, increasing its weighting in the portfolio to 1.13% from 0.90%. Energy stocks pulled back Wednesday, as oil prices tumbled on the back of a higher-than-expected crude inventory build in the U.S., according to data from the American Petroleum Institute. West Texas Intermediate crude — the U.S. oil benchmark — was trading down more than 2%, at around $87 a barrel. The SPR will also need to be refilled eventually, which should be bullish for oil prices. Elevated energy prices will translate to bountiful free cash flow generation for Pioneer, ultimately leading to very healthy shareholder returns.

REUTERS/Lucy NicholsonHOUSTON/SINGAPORE, Nov 3 (Reuters) - Deliveries of U.S. crude oil to Asia are set to touch a record 1.8 million barrels per day this month, Kpler shipping data showed, as demand climbed on a widening discount to global oil. Refiners in China, India and South Korea are returning as big U.S. crude oil buyers after several months of scooping up cheap Russian barrels. Overall, U.S. crude exports last week touched a weekly record of 5.1 million barrels per day (bpd), boosted by higher shale production. South Korea is set to import a record 619,000 barrels per day (bpd) of U.S. crude oil, according to Refinitiv, becoming the month's top Asian importer of U.S. crude. U.S. oil production was 11.98 million bpd in August, the latest month of official figures, as producers raise activity after pandemic cutbacks.

☆ Devon Energy's third-quarter beat comes on the back of solid capital discipline
▼ + stars: | 2022-11-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

3Q cash flow Operating cash flow for the quarter increased 32% year-over-year, to $2.1 billion, roughly in line with analysts' estimates of $2.18 billion. Free cash flow grew 31% annually, to $1.48 billion, in line with forecasts of $1.45 billion. Capital allocation At the Club, we pay close attention to cash flow metrics. The strong cash flow realized in the third quarter allowed management to announce a fixed-plus-variable dividend of $1.35 a share. Free cash flow is expected to increase more than 25% on an annual basis.

☆ Oil giant Saudi Aramco's quarterly profit surges 39% on higher prices
▼ + stars: | 2022-11-01 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia. ABU DHABI, United Arab Emirates — State oil giant Saudi Aramco reported a 39% rise in net income for the third quarter year-on-year, on the back of higher crude prices and tightening global supply. Net income rose to $42.4 billion for the quarter, up from $30.4 billion the previous year and just above expectations. "While global crude oil prices during this period were affected by continued economic uncertainty, our long-term view is that oil demand will continue to grow for the rest of the decade given the world's need for more affordable and reliable energy," Nasser added. Aramco is not alone in predicting a continued rise in oil demand.

☆ Stocks making the biggest moves midday: Wynn Resorts, TuSimple, Newell Brands, First Solar and more
▼ + stars: | 2022-10-31 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +4 min

Newell Brands – Shares of Newell Brands, a consumer goods manufacturer, slipped 7.3%. Paramount Global –Shares of Paramount Global shed 3.6% after being downgraded by Wells Fargo Securities to underweight from equal weight. Meta Platforms – Shares of Meta Platforms fell 5.5%, leading declines in megacap technology stocks following disappointing earnings results last week. The firm has an equal weight rating on the stock. Amgen — The biopharma stock dipped 1.5% after Barclays downgraded Amgen to underweight from equal weight, saying investor enthusiasm ahead of an obesity drug update next week may be overdone.

☆ Oil prices fall as dollar climbs, but set for weekly gain on supply concerns
▼ + stars: | 2022-10-28 | by ( ) www.cnbc.com time to read: +1 min

Oil prices fell in early trade on Friday on a stronger dollar, but were on track for a weekly gain on concerns about supply tightening with Europe's pending cut-off of imports from Russia. U.S. West Texas Intermediate (WTI) crude futures were down 56 cents, or 0.6%, at $88.52 a barrel, paring about half the gains from the previous session. Still, both benchmark oil contracts were on course for a weekly rise, with Brent heading for a gain of more than 3% and WTI more than 4%. Friday's declines came as the dollar index inched up to 110.57, making oil more expensive for buyers holding other currencies. "From an oil market perspective — despite the high interest rates — that's a direct driver into your demand outlook," said Baden Moore, head of commodities research at National Australia Bank.

☆ Halliburton's upgrade on the back of its earnings beat highlights our investment case
▼ + stars: | 2022-10-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

That's something Wells Fargo also referenced, contending it should result in higher margins at Halliburton and other energy services firms. The turning tide for oil prices has helped support stock prices across the industry. And for the likes of Pioneer, Devon and Coterra, sizable cash returns through dividends and buybacks sweeten the investment case. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Oil slides as U.S. crude and gasoline stocks surge
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: +1 min

Oil prices slipped in early Asian trade on Friday as U.S. crude and gasoline inventories jumped, while Saudi Arabia and Washington continued to clash over plans by OPEC+ to slash production. A larger-than-expected surge in U.S. crude oil in storage, along with a rise in gasoline stocks, weighed on oil prices. Crude inventories grew by 9.9 million barrels in the week to Oct. 7 to 439.1 million barrels, the U.S. Energy Information Administration said, far larger than analysts' expectations in a Reuters poll for a 1.8 million-barrel rise. Gasoline stocks jumped by 2 million barrels in the week to 209.5 million barrels, compared with analysts expected a 1.8 million-barrel drop. Keeping prices from falling farther was a steep drawdown in distillate stocks that came as heating oil demand is expected to rise as winter approaches.

☆ Soaring rent, food costs keep U.S. inflation on front burner; labor market tight
▼ + stars: | 2022-10-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Food prices increased 0.8%, with the cost of food at home advancing 0.7% amid rises in all six major grocery store food groups. The war in Ukraine also poses an upside risk to food prices. In the 12 months through September, the CPI increased 8.2% after rising 8.3% in August, decelerating for a third straight month. The so-called core CPI is being largely driven by the higher costs for rental accommodation. The core CPI jumped 6.6% in the 12 months through September, the most since August 1982, after rising 6.3% in August.

☆ U.S. consumer prices increase more than expected in September; weekly jobless claims rise
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +3 min

People shop in a supermarket as rising inflation affects consumer prices in Los Angeles, California, U.S., June 13, 2022. The consumer price index rose 0.4% last month after gaining 0.1% in August, the Labor Department said on Thursday. Stubbornly high inflation and a tight labor market allow the U.S. central bank to maintain its aggressive monetary policy stance for a while. Some of the inflation pressures are coming from the tight labor market. The labor market remains tight.

☆ U.S. producer prices increase more than expected in September
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 12 (Reuters) - U.S. producer prices increased more than expected in September amid strong gains in the costs of services and goods, suggesting inflation could remain uncomfortably high for a while. The producer price index for final demand rebounded 0.4% last month, the Labor Department said on Wednesday. Data for August was revised lower to show the PPI falling 0.2% instead of dipping 0.1% as previously reported. Excluding the volatile food, energy and trade services components, producer prices also rose 0.4% in September. In the 12 months through September, the core PPI rose 5.6% after a similar increase in August.

☆ What to watch for this earnings season: Inflation, consumer health, dollar strength, oil prices
▼ + stars: | 2022-10-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Inflation Health of the consumer The strong dollar Commodity volatility Inflation Inflation remains top of mind for investors, as rising prices continue to weigh on demand for many goods and services. On the other hand, Bank of America analysts highlighted P & G's scale, innovation, and portfolio strength as "key advantages." In an encouraging research note from UBS last week, analysts said iPhone demand is holding up. By reviewing iPhone delivery wait time data, UBS analysts gauged consumer demand for the latest iPhone series. Meta has already forecasted third quarter total revenue in the range of $26 billion to $28.5 billion, reflecting weak advertising demand.

☆ This week's best-performing S&P 500 stocks include 3 energy names expected to jump at least 20%
▼ + stars: | 2022-10-07 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Energy names were the biggest winners in the market this week, as a major production cut by OPEC+ boosted oil prices. In addition, eight of the top 10-performing S & P 500 stocks this week are energy names. This year, Halliburton's stock price has increased more than 34%, including this week's more than 22% gain. Outside of energy names, analysts are also very bullish on Western Digital. Energy names Devon Energy , Hess , Pioneer Natural Resources and Schlumberger complete the list.

☆ Oil prices steady on expectations Fed rate hike to curb fuel demand
▼ + stars: | 2022-09-20 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB) gasoline, CARB diesel fuel, and other petroleum products, in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan/File PhotoSINGAPORE, Sept 20 (Reuters) - Oil prices steadied on Tuesday after rising in the previous sessionon concerns that further U.S. interest rate hikes this week to tame inflation will curb economic growth and fuel demand in the world's biggest oil consumer. U.S. crude oil stocks are estimated to have risen last week by around 2 million barrels in the week to Sept. 16, a preliminary Reuters poll showed on Monday. read moreSigns that major producers are unable to meet their output quotas did give prices some support. read moreHowever, they are signs that higher oil prices this year are curbing demand.

☆ Oil prices steady as prospect of Fed hikes may curb fuel demand
▼ + stars: | 2022-09-20 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were little changed on Tuesday, after rising in the previous session, on concerns that interest rate hikes in the United States to tame inflation will curb economic growth and fuel demand in the world's biggest crude consumer. "The global economy is slowing and that has been troubling for the crude demand outlook." U.S. crude oil stocks are estimated to have risen last week by around 2 million barrels in the week to Sept. 16, a preliminary Reuters poll showed on Monday. The U.S. Energy Department will sell up to 10 million barrels of oil from the Strategic Petroleum Reserve for delivery in November, extending the timing of a plan to sell 180 million barrels from the stockpile to tame fuel prices. ANZ Research analysts did point to the lifting of citywide lockdowns in China's Chengdu and Dalian on Monday as a potential spark for a stronger recovery in oil demand growth in the world's second-largest oil consumer.

☆ Oil edges up as supply woes outweigh demand and rate hike worries
▼ + stars: | 2022-09-19 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. The Organization of Petroleum Exporting Countries and allies led by Russia, known as OPEC+, fell short of its oil production target by 3.583 million barrels per day (bpd) in August, an internal document showed. read moreStill, oil also came under pressure from hopes of an easing of Europe's gas supply crisis. read more"The market still has the start of European sanctions on Russian oil hanging over it. As supply is disrupted in early December, the market is unlikely to see any quick response from U.S. producers," ANZ analysts said.

☆ Oil little changed as markets debate fed hikes and supply woes
▼ + stars: | 2022-09-19 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. read moreStill, oil also came under pressure from hopes of an easing of Europe's gas supply crisis. The U.S. dollar stayed near a two-decade high ahead of this week's decisions by the Fed and other central banks. read more"The market still has the start of European sanctions on Russian oil hanging over it. As supply is disrupted in early December, the market is unlikely to see any quick response from U.S. producers," ANZ analysts said.

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