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75% of CFOs Embrace Double Digit Spending Increases
CFOs want to spend more, but access to capital is the challenge, per the CFO Alliance sentiment report.
By
Adam Zaki
| January 26, 2023
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Oil Prices
The Economy
Ida’s Economic Toll Seen as Relatively Modest
Analysts estimate insurance industry losses from the hurricane will hit around $10 billion, one-tenth of the toll of Katrina.
By
Matthew Heller
| August 31, 2021
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The Economy
Oil Prices Hit 6-Year High Amid OPEC Discord
Prices surged on news that OPEC failed to reach an agreement on increasing production to satisfy growing demand.
By
Matthew Heller
| July 7, 2021
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GAAP and IFRS
BP Faces $17.5B Q2 Hit
The oil giant lowered its oil price expectations through 2050 due to the COVID-19 pandemic.
By
Lauren Muskett
| June 15, 2020
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Financial Performance
Exxon Posts $610M Loss Amid Oil Price Dive
“COVID-19 has significantly impacted near-term demand, resulting in oversupplied markets and unprecedented pressure on commodity prices and margins."
By
Matthew Heller
| May 1, 2020
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The Economy
Gas Demand Plunges Amid Virus Lockdowns
“The oil industry could take a sustained hit as people stay close to home and forgo typical commutes along with travel plans."
By
Matthew Heller
| March 27, 2020
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Strategy
Chevron Slashes 2020 Capital Spending by 20%
The company cited the demand-sapping coronavirus pandemic and a supply increase due to the oil-price war between Saudi Arabia and Russia.
By
Matthew Heller
| March 24, 2020
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Financial Performance
U.S. Airlines in Strong Position to Withstand Virus
Fitch Ratings says industry consolidation and profitability should shield carriers from a temporary falloff in demand.
By
Matthew Heller
| March 13, 2020
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The Economy
U.S. Producer Prices Fall 0.6% in February
"The disinflationary impact from the [coronavirus] and the crash in oil prices will exert even more downward pressure on prices."
By
Matthew Heller
| March 12, 2020
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The Economy
Oil Prices Rebound on U.S. Stimulus Hopes
After Monday's epic collapse, prices also got a boost from signs that Saudi Arabia and Russia will resolve their differences over oil production.
By
Matthew Heller
| March 10, 2020
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The Economy
Oil Prices Jump on Risk of Libya Output Shortage
"The violence in Libya is captivating the market," one analyst says as the benchmark Brent and WTI crudes hit five-month highs.
By
Matthew Heller
| April 8, 2019
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The Economy
Oil Prices Dip Into Bear Market Territory
The price of WTI crude fell for the 10th consecutive session, the longest streak of declines since 1984.
By
William Sprouse
| November 9, 2018
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The Economy
Iran Deal Concerns Push Oil Prices Above $70
“It is mostly a fundamentals-driven market, but the icing on the cake is the worry about Iran."
By
Matthew Heller
| May 7, 2018
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Financial Performance
Exxon Shares Drop 3.7% on Another Profit Miss
In the first quarter, the benefits of higher oil prices were offset by weakness in Exxon's chemicals and refining businesses.
By
Matthew Heller
| April 27, 2018
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The Economy
U.S. Oil Production to Hit New Record in 2018
With the shale boom continuing, the IEA says the U.S. will overtake Saudi Arabia as the world's No. 2 producer.
By
Matthew Heller
| January 19, 2018
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The Economy
U.S. Shale Surge Drives up Global Oil Supply
The International Energy Agency warns that U.S. shale production could complicate OPEC's efforts to restrain output.
By
Matthew Heller
| December 15, 2017
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