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PowerShares DB Oil ETF (DBO)

- NYSEARCA
  • Fri, Apr. 24, 1:50 PM
    • U.S. oil drillers took another 31 rigs out of service last week, falling for the 20th consecutive week and bringing the total number of active rigs down to 703 from their October peak of ~1,600, according to the latest weekly survey from Baker Hughes (NYSE:BHI).
    • More than half of the oil rigs idled this week were in in Texas, as the state’s rig count fell by 19 to 393, down from 894 a year ago; of that number, a dozen were sidelined in the Permian Basin in west Texas.
    • The total U.S. natural gas rig count rose by eight to 225 rigs; the overall total U.S. rig count declined 22 to 932 (four rigs were listed as miscellaneous).
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 30 Comments
  • Wed, Apr. 22, 10:31 AM
    | 41 Comments
  • Wed, Apr. 22, 6:19 AM
    • U.S. crude futures extended declines on Wednesday after Saudi Arabia concluded its military campaign in Yemen, while industry data showed a larger-than-expected build in U.S. oil inventories.
    • Figures released by the American Petroleum Institute yesterday showed that inventories rose by 5.5M barrels last week, higher than the 2.9M barrel build expected by analysts.
    • "We will probably see one more dip in the second quarter but prices probably won't go below this year's lows," said Ian Taylor, head of the world's top oil trader, Vitol.
    • The EIA will issue official U.S. stocks data at 10:30 a.m. EST.
    • Crude futures -0.8% to $56.17/bbl.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 11 Comments
  • Wed, Apr. 22, 3:44 AM
    • Two days after Senator Lisa Murkowski said she would introduce legislation this year to allow U.S. crude exports, Pioneer Natural Resources (NYSE:PXD) CEO Scott Sheffield has put the chances of lifting the ban in 2015 at 40% to 50%.
    • The chief executive, which has recently held talks with members of Congress and the Obama administration about removing the decades-old restriction, also sees an 80% to 90% chance that American E&P companies will be allowed to export crude by early 2017.
    • Last year, the Commerce Department gave Pioneer and Enterprise Products Partners permission to begin selling an ultralight oil product called condensate.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 9 Comments
  • Tue, Apr. 21, 12:27 PM
    • Markets make opinions, and oil's sizable bounce over the past month - 30% and counting - has the team at JPMorgan seeing "signs of stability and modest upside" for black gold.
    • "The bottoming-out phase for oil prices has occurred more quickly than anticipated driven by Iraq’s production shortfall during Q1, stronger-than-expected refinery runs absorbing surplus crude supplies, and rising geopolitical tensions centered on the conflict intensifying in Yemen," says Joyce Chang, head of global research at the bank, who also sees stronger demand growth, particularly towards year-end.
    • Source: Barron's
    • Previously: Baker Hughes increases layoffs to 10,500 (April 21)
    • Oil's about unchanged on the session at $56.30 per barrel.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 12 Comments
  • Tue, Apr. 21, 5:01 AM
    • "We expect the members of OPEC to pave the ground for an increase of Iran's oil production that will reach global markets when sanctions are lifted," Iran's oil minister, Bijan Namdar Zanganeh, announced in Tehran today.
    • Once OPEC's second-largest producer after Saudi Arabia, Iran hopes to boost crude exports by as much as 1M bpd if it finalizes a nuclear agreement with six major powers by June 30.
    • In response to the Iranian crude which could come back on the market, Senator Lisa Murkowski of Alaska plans to offer energy legislation this year that would lift the ban on U.S. oil exports, calling them "sanction against ourselves."
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 10 Comments
  • Mon, Apr. 20, 6:18 AM
    • Oil prices eased from early highs this morning after Saudi Oil Minister Ali al-Naimi said production in the world's biggest crude exporter would stay near record peaks of around 10M bpd in April.
    • "I have said many times we will always be happy to supply to our customers with what they want. Now they want 10 million," Naimi told Reuters.
    • Brent crude fell to $63.79 a barrel, down from an intraday peak of $64.34, while U.S. crude dropped to $56.09/bbl, from an earlier high of $56.65.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 8 Comments
  • Fri, Apr. 17, 2:10 PM
    • The U.S. oil rig count resumes its slide, as producers idled another 26 rigs this week to 734, according to the latest survey from Baker Hughes (NYSE:BHI).
    • The oil rig count is now down 55% from its peak of 1,609 in late October 2014.
    • Natural gas rigs fell by eight to 217, sending the U.S. combined count of oil and gas rigs down by 34 to stand at 954.
    • Texas lost 15 units to 412, down 494 since the Nov. 21 peak, Oklahoma lost six units to 118, and North Dakota shed five to 83.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 30 Comments
  • Thu, Apr. 16, 3:15 PM
    • U.S. crude oil rose for the sixth straight session to finish at another new high for the year, settling $0.32 higher at $56.71/bbl on news that an Al Qaeda-related tribal group took control of a major southern oil terminal in Yemen after military forces protecting it withdrew from the site.
    • The terminal is one of the major hubs for the Hadramout region, exporting an average of 120K-140K bbl/day of crude from fields in the area.
    • Crude posted its gains despite a report from OPEC that Saudi Arabia boosted crude output by 658K bbl/day in March to an average of 10.29M bbl/day - roughly half the daily production from the Bakken formation in North Dakota.
    • OPEC also predicted output from U.S. oil fields would stall out and eventually fall later this year as producers park hundreds of drilling rigs, expecting U.S. liquids production to decline by ~600K bbl/day from around the middle of the year to Q4.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 38 Comments
  • Wed, Apr. 15, 3:15 PM
    | 69 Comments
  • Wed, Apr. 15, 10:32 AM
    | 46 Comments
  • Wed, Apr. 15, 3:25 AM
    • According to the new annual energy outlook by the Energy Information Administration, U.S. crude oil production will peak at 10.6M barrels per day in 2020, a million barrels more than the high forecast a year earlier.
    • Crude production will then moderate to 9.4M bpd in 2040, 26% more than expected a year ago, the agency added.
    • Despite lower prices, higher production will result mainly from increased onshore oil output, predominantly from shale formations.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
    | 16 Comments
  • Tue, Apr. 14, 1:00 PM
    • Outflows from four of the largest oil ETFs, including the biggest USO, hit $338M in the two weeks ended on April 8, according to Lipper. It's the first two-week outflow since September, and a big turnaround from early this year when bottom-fishers poured into the funds.
    • The exit comes as WTI crude oil has rebounded about $10 per barrel over the past month, with much of that bounce occurring during the last two weeks.
    • "[ETFs] have become a problem," says one oil economist, as the vehicles have allowed speculators to maybe dash the Middle East's hope of prices falling enough to dent non-OPEC output.
    • Oil is up by another 3.2% today, touching its highest price of the year.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 22 Comments
  • Fri, Apr. 10, 2:15 PM
    • The U.S. energy industry slowdown picked up steam this week, as the total U.S. oil rig count fell by 40 to 760 rigs after slipping by just 11 last week and 12 in the prior week, according to the latest survey from Baker Hughes (NYSE:BHI).
    • The oil rig count has fallen for 18 consecutive weeks and is down 53% from the recent peak of 1,609 rigs hit on Oct 10, 2014.
    • The pace of the pullback quickened in Texas, where 29 land rigs were taken down this week after declining by just six lat week and three the week before.
    • The total U.S. natural gas rig count rose by three to 225 rigs.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 19 Comments
  • Thu, Apr. 9, 5:10 AM
    • Crude oil is +1.9% at $51.39 after plunging 6.6% yesterday following news of historically high stockpiles in the U.S. and increased production in Saudi Arabia.
    • "While we expect U.S. oil supply to tighten later in 2015, the supply response will be milder and shorter-lived than previously thought," says ANZ Bank says.
    • Nomura analyst Alastair Newton says Saudi Arabia's determination to protect its market share "shows no sign of easing despite the fiscal consequences."
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 18 Comments
  • Wed, Apr. 8, 3:49 PM
    • Crude oil prices tumbled to their biggest loss in two months after the EIA reported the largest weekly increase in domestic crude supplies since 2001, rising by 10.9M barrels in the week ended Friday.
    • Nymex crude settled $3.56 lower, or 6.6%, to close at $50.42/bbl after gaining ~10% over the previous two days to end Tuesday at its highest level of the year.
    • Adding to the bearish outlook for oil prices, the Saudi oil minister said yesterday that Saudi output would remain near 10M bbl/day after posting a record high of 10.3M bbl/day in March.
    • Stored supplies at the Cushing, Okla., hub rose above 60M barrels for the first time on record; however, demand is expected to rise in the coming months as drivers make more warm weather trips, and refineries typically buy more crude in the late spring to turn into gasoline and other fuels.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 25 Comments
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DBO Description
The PowerShares DB Oil Fund (Fund) is based on the Deutsche Bank Liquid Commodity Index - Optimum Yield Oil Excess Return™ (Index) and managed by DB Commodity Services LLC. The Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. You cannot invest directly in an index. Ordinary brokerage commissions apply.
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