By Chris Matthews, MarketWatch, Clive McKeef. Deere earnings hit as trade war hits farm sector. The Dow Jones Industrial Average ended up 300 points on Friday, rising for a second day after a volatile week which saw its biggest one day fall for the year on Wednesday, but stocks still ended down for the week.
* For the week, Brent ekes 0.2% gain, U.S. crude rises 0.7% * OPEC sees bearish oil market for rest of 2019. * U.S. drillers add oil rigs for 1st week since June -Baker Hughes. By Jessica Resnick-Ault and Devika Krishna Kumar. Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.
OPEC on Friday provided a downbeat oil-market outlook for the rest of 2019 as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to restrain supplies.
A recent unsolicited bid for Inter Pipeline Ltd (IPPLF) has highlighted the potential of Canada's midstream companies to offer insulation from volatile oil prices. Inter Pipeline (IPPLF), Pembina Pipeline Corp (PBA) and Keyera
Corp (KEYUF) own key infrastructure such as gathering pipelines, gas-processing plants and storage tanks that are in high demand, and reported record second quarter profits.
The United States last week imposed a sweeping freeze on Venezuelan government assets in U.S. territory and threatened to sanction any company that works with socialist President Nicolas Maduro's government, as the Trump administration ratcheted up its bid to force Maduro out.
Worries about the health of the world's economy and increasingly uncertain trade relations between the U.S. and China will put further pressure on global oil demand in 2019, the International Energy Agency said Friday. In its closely watched oil-market report, the IEA downgraded its forecast for global oil demand growth for the third time in four months, lowering it to 1.1 million barrels a day from 1.2 million barrels a day. Demand for the January-to-May period was at its...
Ensign Energy Services Inc (ESVIF): * . REPORTS 2019 SECOND QUARTER RESULTS. * Q2 LOSS PER SHARE C$0.20. * Q2 REVENUE C$377.7 MILLION VERSUS REFINITIV IBES ESTIMATE OF C$410.1 MILLION. * Q2 EARNINGS PER SHARE ESTIMATE C$-0.14 -- REFINITIV IBES DATA. * OUTLOOK FOR OILFIELD SERVICES INDUSTRY REMAINS GENERALLY UNCHANGED FOR 2019.
Crude oil prices tumble; Whiting lays off 33% of its employees and reports another surprise loss. Shares of energy companies were in broad decline Thursday, highlighted by the plunges in Whiting Petroleum Corp.' s and Chesapeake Energy Corp.' s stocks, as crude oil prices were suffering their worst one-day performance in nine months. The SPDR Energy Select Sector exchange-traded fund slumped 2.3%, with 23 of 29 equity components losing ground.
Big Oil needs big plastic. Companies like Chevron (CVX) and Exxon Mobil (XOM) earned that moniker for a reason, but as the petroleum market gets less lucrative and demand projections wane, their investments have shifted. Not long ago it was in the direction of natural gas, oil's cleaner-burning hydrocarbon cousin.
Swiss pump maker Sulzer AG defied the gloomy global industrial outlook by lifting its full-year sales forecast on Wednesday after a big jump in sales to the oil and gas sector. Chief Executive Greg Poux-Guillaume expects large investments by oil and gas companies to continue next year, having a positive impact on Sulzer's sales and profits.
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