DB Crude Oil Long ETN (OLO) - NYSEARCA
  • Thu, Jul. 7, 12:44 PM
    | Thu, Jul. 7, 12:44 PM | 60 Comments
  • Thu, Jul. 7, 11:03 AM
    | Thu, Jul. 7, 11:03 AM | 44 Comments
  • Thu, Jul. 7, 3:39 AM
    • The world risks becoming ever more reliant on Middle Eastern oil as lower prices derail government efforts to curb demand, IEA's Fatih Birol told FT.
    • According to the leading energy body, ME producers now make up 34% of global output, pumping 31M barrels a day. That is the highest proportion since the Arab fuel embargo of the 1970s when it hit 36%.
    • In 1985, when North Sea production accelerated, their share fell to as little as 19%.
    • Crude futures +0.6% to $47.71.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Thu, Jul. 7, 3:39 AM | 9 Comments
  • Tue, Jul. 5, 10:54 AM
    • The U.S. holds more oil reserves than Saudi Arabia and Russia for the first time, according to a new study by research group Rystad Energy.
    • In estimates which include potential reserves in recent discoveries and in yet to be discovered fields, U.S. reserves total 264B barrels, ahead of 256B barrels in Russia and 212B barrels in Saudi Arabia.
    • More than half of remaining U.S. oil reserves are in unconventional shale oil, Rystad data shows, with Texas alone holding more than 60B barrels of shale oil.
    • Other global oil reserves data, such as the BP Statistical Review, which relies on official reporting from national authorities, show the U.S. still ranks behind Saudi Arabia, Russia, Canada, Iraq, Venezuela and Kuwait.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Tue, Jul. 5, 10:54 AM | 23 Comments
  • Tue, Jul. 5, 2:06 AM
    • The U.S. holds more oil reserves (264B barrels) than Saudi Arabia (212B) and Russia (256B), the first time it has surpassed those held by the world's biggest exporting nations, according to a new study by Rystad Energy.
    • The analysis of 60K fields worldwide, conducted over a three-year period, shows total global oil reserves at 2.1T barrels. That is 70x the current production rate of about 30B barrels of crude per year.
    • Crude futures -2% to $47.99/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Tue, Jul. 5, 2:06 AM | 32 Comments
  • Fri, Jul. 1, 2:18 PM
    | Fri, Jul. 1, 2:18 PM | 48 Comments
  • Thu, Jun. 30, 4:55 AM
    • Oil is headed for its biggest quarterly advance since 2009, rising 29% in the last three months as falling American supply adds to speculation that the global surplus is easing.
    • Data from the EIA yesterday showed U.S. crude stockpiles dropping to the lowest since March and output falling for a third week.
    • Supply disruptions in Nigeria and Canada, as well as fears over strike outages in Norway, have also given the commodity a big lift.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Thu, Jun. 30, 4:55 AM | 12 Comments
  • Wed, Jun. 29, 12:30 PM
  • Wed, Jun. 29, 10:32 AM
    | Wed, Jun. 29, 10:32 AM | 80 Comments
  • Tue, Jun. 28, 2:29 PM
    • Statoil (STO +3.3%) must not attempt to scale back existing labor agreements if it wants to prevent a strike by Norwegian oil and gas workers beginning July 2, says the Industri Energi union, which represents two-thirds of the workers that would strike.
    • Three unions said yesterday that 755 Norwegian workers on seven oil and gas fields operated by STO, Exxon Mobil (XOM +1.2%) and Engie (OTCPK:ENGIY) will strike unless a deal on wages and other working conditions is agreed; Reuters says the fields account for ~18% of Norway's combined output of crude oil, natural gas and natural gas liquids.
    • XOM and Engie have said a conflict would cut output at the fields they operate, while STO has declined to comment on all aspects of the negotiations.
    • Crude oil prices today are ~3% higher, bouncing off their Brexit-fueled selloff, and the threat of the Norway strike is said to be one of the causes.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Tue, Jun. 28, 2:29 PM | 4 Comments
  • Fri, Jun. 24, 2:15 PM
    | Fri, Jun. 24, 2:15 PM | 32 Comments
  • Fri, Jun. 24, 9:42 AM
    • Even as WTI crude oil now -4.6% at $47.79/bbl and Brent -4.8% at $48.43, Reuters' John Kemp says crude prices so far have shown only a relatively modest impact from the U.K.’s vote to leave the European Union.
    • According to Kemp, the price move in dollar as well as percentage terms was about two standard deviations compared with all one-day price changes since 1990; far larger moves have been common in oil markets, which suggests traders see the impact from the vote as relatively limited, at least for now.
    • For the longer term, the impact on oil demand will be too small to register on a global level, Kemp says, noting that Britain consumes less than 1.6M bbl/day of oil - 1.6% of the global total - and the country’s consumption has been static or falling since 2005.
    • Kemp concedes that his assessment could change rapidly as the consequences of Brexit become clearer.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Fri, Jun. 24, 9:42 AM | 29 Comments
  • Fri, Jun. 24, 7:48 AM
    | Fri, Jun. 24, 7:48 AM | 23 Comments
  • Thu, Jun. 23, 7:15 PM
    • BP CEO Bob Dudley joins a growing number of oil industry leaders predicting the historic lows in crude prices are nearing an end.
    • Citing rising oil demand in China, North America and Europe, Dudley says "Global supply and demand recently have moved toward a better balance, and we expect this trend to continue into the second half of 2016 and probably reaching a balance by the end of the year on a daily basis."
    • Dudley foresees an oil price of $50/bbl at the end of this year and $50-$60 oil prices next year, but "we’re not expecting the days of $100 oil to return anytime soon, so we must maintain our discipline and continue to improve our productivity or we won’t survive."
    • Dudley also advocates a price on carbon to allow "a stable, orderly transition to a lower-carbon future."
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Thu, Jun. 23, 7:15 PM | 18 Comments
  • Thu, Jun. 23, 6:20 AM
    • Saudi Arabia's new oil minister has signaled an end to the worst of the oil glut and indicated the OPEC kingpin is preparing to reassert a degree of control over the market after two years of letting prices fall.
    • "We are out of it. The oversupply has disappeared," Khalid Al-Falih told the Houston Chronicle. "We just have to carry the overhang of inventory for a while until the system works it out."
    • Falih replaced long-time Saudi oil policymaker Ali al-Naimi in May.
    • Crude futures +1.5% to $49.85/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Thu, Jun. 23, 6:20 AM | 38 Comments
  • Wed, Jun. 22, 7:15 PM
    • T. Rowe Price (NASDAQ:TROW) natural resources guru Shawn Driscoll is still bearish on oil, and he warns WSJ that the world is in a 10-15 year bear market in energy and commodities.
    • The basis for Driscoll’s bear thesis is rising productivity, which lowers costs and pushes producers to drill more; combined with fast turnarounds in shale drilling, new near-shore projects in places such as Norway and rising production in Iran and elsewhere, and supply will remain strong for years.
    • Driscoll sees the next big test for the bear case is coming up as the oil market gets closer to supply-and-demand balance; oil likely would surge above $50/bbl if demand outstrips supply, but Driscoll believes new supply plus plentiful oil in storage will keep prices low.
    • Driscoll is one of most influential energy bears in the market, and many of T. Rowe Price's fund managers have followed his advice; at the end of Q1, the firm’s 70 stock funds, with $382B in assets, had just over half of the market’s 6.8% weighting in energy - "a big negative bet for a major mainstream firm," writes WSJ's Ken Brown.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Wed, Jun. 22, 7:15 PM | 28 Comments
OLO Description
The DB Crude Oil Long ETN tracks the performance of crude oil using futures contracts. It uses an optimized rolling strategy to minimize contango.
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