The Norwegian oil workers' strike has shut down 240K bbl/day, or 15%, of the country's oil...


The Norwegian oil workers' strike has shut down 240K bbl/day, or 15%, of the country's oil production, and 11.9 mmcf/day, or 7%, of its natural gas output, a significant cut which could push oil prices higher. The strike has affected Statoil (STO) the most; the Norwegian company shut down four new installations and says it is losing ~$25M/day.

From other sites
Comments (2)
  • gcmagone
    , contributor
    Comments (1079) | Send Message
     
    Who invented labor unions? They seem to be so helpful every time you read about them.
    27 Jun 2012, 11:25 AM Reply Like
  • Stun57
    , contributor
    Comments (43) | Send Message
     
    The only reason STO would lose 25M/day is if they know they will gain at least 30M/day once the strike is settled. Bullish.
    27 Jun 2012, 04:51 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs