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LATEST OIL HEADLINES
OIL & GAS STOCKS TO WATCH
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6:39SPR release and Omicron have probably killed momentum for $100 WTI: Dan Pickering
Dan Pickering, CIO of Pickering Energy Partners, joins BNN Bloomberg for his outlook on the oil market. Pickering says a potential SPR release and rising fears of Omicron have probably killed momentum for $100 WTI, but OPEC+ will limit further declines to the downside and supply will continue to be tight into 2022. He also thinks oil and gas stocks are underappreciated and sees opportunity in Diamondback Energy, Devon Energy, Coterra Energy and Schlumberger.
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4:33Oil went up so far so fast, it was looking for an excuse to correct: Portfolio manager
Norman Levine, portfolio manager at Portfolio Management Corp, talks about why he favours oil and energy stocks.
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5:17India Yet to Start Selling Oil Under Coordinated Move
H.P.S. Ahuja, chief executive officer of state-run Indian Strategic Petroleum Reserves Ltd., discusses the country's energy policy. The government said earlier this month it will release oil from its strategic reserves as part of a coordinated effort led by the U.S. to tame surging prices. Ahuja speaks with Rishaad Salamat and Juliette Saly on "Bloomberg Daybreak: Asia."
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4:55
Oil Expected to Keep Rising, FGE's Fesharaki Says
Fereidun Fesharaki, founder and chairman of energy consultancy FGE, discusses the outlook for oil, which extended gains in Asian trading after the OPEC+ alliance decided to keep restoring supply. The group also said it could revisit the decision at any moment due to high levels of uncertainty in the market. Fesharaki speaks on "Bloomberg Markets: Asia."
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6:57Oilpatch keeping the lid on spending amid record-setting output
Canadian oil and gas companies have been hesitant to loosen the purse strings in spite of this fall's commodity price boom, and the arrival of the new Omicron COVID-19 variant may help to explain why.
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7:03Oil rally fizzles as first U.S. case of Omicron rattles markets
Oil fell in another volatile session with the first identified U.S. case of omicron jolting markets ahead of OPEC’s meeting with partners tomorrow to discuss output production.
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4:31
Gold Likely to Fall to Around $1,700, CBA's Dhar Says
Vivek Dhar, mining and energy economist at Commonwealth Bank of Australia, discusses the outlook for oil, iron ore and gold. Gold erased gains after Federal Reserve Chair Jerome Powell said the strong U.S. economy and elevated inflation could warrant ending the central bank's asset purchases sooner than planned next year. Dhar speaks on "Bloomberg Daybreak: Asia."
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3:21Oil Plunges More Than 5%, Briefly Falls Below $65
Oil slid more than 5% in New York trading, with West Texas Intermediate crude futures briefly dropping below $65 a barrel for the first time since August. Su Keenan reports on "Bloomberg Daybreak: Australia."
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6:57Alberta deficit to shrink as oil price surge drives growth
Alberta slashed its deficit forecast for the current fiscal year by 68 per cent as surging oil prices drive economic growth in the western Canadian province.
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8:06Oil will fall dramatically in the short-term but it could reach $90 by the end of 2022: Wells Fargo's Wren
Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, joins BNN Bloomberg to talk Omicron fears impacting oil and equities. Wren advises investors to find balance between cyclicals and growth. His team has downgraded the energy sector as it has had a long run and instead is adding more technology and communication services.