Chevron Downgraded to Sell From Buy at DZ Bank
Saudi Arabia is waging a price war, and two major US Shale Oil giants have announced cuts in capital expenditures. Has the production of Shale Oil in the USA reached its peak?
The major USA shale oil companies Diamondback Energy and Coterra Energy have both stated that they will reduce their capital budgets for 2025 and decrease the number of drilling rigs. Diamondback Energy CEO Travis Stice warned: "Due to the reduction in drilling rigs, the USA onshore oil production is likely to have peaked and will begin to decline this quarter."
Oil Prices Slide Over US$2 As OPEC+ Accelerates Output Hikes
Wall Street Futures Dip On Trump's New Tariffs, Fed Meeting In Spotlight
Chevron Corporation (CVX): Among the Top Commodity Producers With the Highest Upside Potential
Analysts Still Like Chevron, Cite Strong FCF & Balance Sheet As Key Amid OPEC And Recession Fears
Crude Oil in the USA fell by 2% as the OPEC+ June production increase expectations put pressure.
WTI Crude Oil in the USA fell about 2% on Monday (May 5), after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided to increase production for the second consecutive month. West Texas Intermediate Crude Oil for June delivery on the New York Exchange decreased by $1.16, a drop of 1.99%, closing at $57.13 per barrel. The global benchmark Brent Crude Oil fell by $1.06, down 1.73%, closing at $60.23 per barrel. International oil prices have cumulatively dropped about 20% this year. Last Saturday (May 3), the eight OPEC+ countries led by Saudi Arabia reached an agreement to increase production again in June.
$50 Oil Looks Likely. It Isn't Priced in the Stocks Yet. -- Barrons.com
Update: WTI Oil Trading at Four-Year Low as OPEC+ Looks to Discipline Members With Another Hike in Supply
Berkshire Hathaway Stock Slips After Buffett's Surprise Announcement
Energy ETFs in Focus as Exxon, Chevron Beat Earnings Estimates
Falling Oil Prices Put U.S. Drilling in Focus -- Market Talk
Goldman Sachs Issues Bearish $40 Oil Forecast As OPEC+ Pumps More: Energy Stocks Sink
Shares of Energy Stocks Are Trading Lower Amid a Drop in the Price of Oil. Oil Fell on Reports Suggesting OPEC+ Agreed to Production Increases in June.
Express News | Shares of Energy Stocks Are Trading Lower Amid a Drop in the Price of Oil. Oil Fell on Reports Suggesting OPEC+ Agreed to Production Increases in June
Warnings on Cleveland-Cliffs, Chevron, and Wendy's
Dow's 175-Point Drop Led By Losses For Shares Of Chevron, Apple
TD Cowen Adjusts Price Target on Chevron to $150 From $155, Maintains Hold Rating
Bernstein Adjusts Price Target on Chevron to $168 From $173, Maintains Market Perform Rating
Chevron Is Maintained at Overweight by Wells Fargo