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[posting]63181881[/posting]April 1, 2020 6:29 pm ET Oil Prices Rose Because Trump May Meet With CEOs to Help the Industry https://www.barrons.com/articles/oil-prices-rose-because-tru… Oil prices rose late on Wednesday after a Wall Street Journal report saying that President Donald Trump will meet on Friday with oil industry executives to determine how to revive the flagging industry. After falling less than 1% in regular trading, West Texas Intermediate crude futures rose after hours, climbing 3.5% to $21.42 per barrel. Brent crude futures, the international benchmark, remained lower. Saudi Arabia said on Wednesday that it will boost production to over 12 million barrels per day, adding more supply even as demand for oil falls because of coronavirus-related restrictions. The executives who will meet with Trump reportedly include Exxon Mobil (XOM) CEO Darren Woods, Chevron (CVX) CEO Mike Wirth, Occidental Petroleum (OXY) CEO Vicki Hollub and Continental Resources (CLR) Executive Chairman Harold Hamm. Measures being floated to help U.S. oil companies include tariffs on Saudi Arabian oil imports and waivers on rules about transporting oil between U.S. ports. If those rules were waived, ships could take oil products around the country more easily, competing more effectively with the flood of Saudi imports now being shipped to the U.S. But not everyone agrees that those measures are worth doing, and it’s not clear that the government can shift the fortunes of U.S. producers given that oil is a global commodity. If Saudi Arabia is offering it for cheaper than the U.S, American companies won’t be able to export as much. |
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| aus der Diskussion: | Ölpreise stark gestiegen - Brent auf höchstem Stand seit knapp 4 Jahren |
| Autor (Datum des Eintrages): | faultcode (02.04.20 00:41:11) |
| Beitrag: | 165 von 539 (ID:63208629) |
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