Welcome to the latest edition of the Energy Recap. This week, we wanted to start a discussion about the upcoming OPEC meeting scheduled to take place next Thursday, May 25. The main talking points for the Vienna meeting will be "whether to extend the current six-month production-cut deal beyond the mid-2017 expiration, and whether agreed-upon reductions should be increased."
What are your thoughts about the likely outcome in terms of the above-mentioned items? Do you agree with the current consensus that OPEC will probably extend the production-cut agreement? Or do you think that the cartel will end the agreement altogether? And what about the possibility of an increase in the output reductions?
Please let us know what you think will be the most likely outcome of next week's OPEC meeting by leaving your thoughts in the comments section below.
Energy Articles of Note
"Imperial Oil: Levered Exposure To Oil Prices At A Fair Price" By David Addison
"Exxon Mobil: Growing Dividends Mask A Shrinking Business" By Richard Zeits
"Is Now A Good Time To Buy/Hold Oil Sector Stocks?" By Robert Boslego
Energy Sector Bankruptcies for the Week Ended May 19, 2017
Here's a list of the most recent bankruptcy announcements in the energy sector:
- On Wednesday, May 17, GulfMark Offshore (NYSEMKT:GLF) filed for bankruptcy, after first saying it would do so on or before Sunday, May 21.
- On Thursday, May 18, Tidewater (NYSE:TDW) announced that it has filed for Chapter 11 bankruptcy.
Feel free to add anything that we might have missed in the comments section below.
U.S. Oil Rig Count
As per Baker Hughes, the number of active U.S. oil drilling rigs increased for the 18th straight week.
Weekly Natural Gas Storage Report and Summary
Natural Gas Rig Count
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