• Oil rises, energy stocks outperform as OPEC reportedly considers extending production cuts

    1 month ago - By Business Insider

    Summary List Placement Oil prices advanced and the energy sector outperformed the broader equity market Wednesday, propelled higher following a report that major oil producers are considering sticking with production cuts next month.
    West Texas Intermediate jumped 2.7% to $61.38 a barrel. At the same time, the Energy Select Sector SPDR exchange-traded fund bounced up 2.2%., with oil producer Chevron higher by 1.8% and Exxon Mobil shares adding on 0.9%
    The moves were made following a Reuters report that members of the Organization of the Petroleum Exporting Countries and its allies are...
    Read more ...

     

  • Oil rises, energy stocks outperform as OPEC reportedly considers extending production cuts

    Oil rises, energy stocks outperform as OPEC reportedly considers extending production cuts

    1 month ago - By Business Insider

    Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 1, 2018. Oil production has been causing a sudden influx of money especially for local Texans despite the consequences for the natural environment.
    Benjamin Lowy/Getty Images
    Oil prices advanced and the energy sector outperformed the broader equity market Wednesday, propelled higher following a report that major oil producers are considering sticking with production cuts next month. West Texas Intermediate jumped 2.7% to $61.38 a barrel. At the same time, the Energy Select Sector SPDR exchange-traded fund...
    Read more ...