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OPEC

Obama v. Trump v. stocks: Lies, damned lies and politicians

WASHINGTON, June 2, 2016 – June is bustin’ out all over on Wall Street. The problem is, stock and bond traders and investors don’t seem to know which way it’s bustin’. The usual suspects—Saudi oil extortionists, an intrusive federal government, and big-mouth CEOs guarding their turf—are making investors nervous with their latest round of blustering ...

Doha oil talks fail. Crude prices barely move. Stocks up?

WASHINGTON, April 18, 2016 – Like everything else these days, stocks and bonds are now a political game, just like everything else in these (dis) United States these days. Take the price of oil. Please. False, bullish hopes for an oil production “freeze” accord during this weekend’s bizarre OPEC talks held in Doha, Quatar were ...

Peabody [BTU] goes Chapter 11, Doha OPEC charade on horizon

WASHINGTON, April 14, 2016 – So much business and financial news has been hitting the wires this week that we’ve had a hard time focusing on main topics and issues for this column. While there are many additional things to discuss, key happenings coming into focus this week include the sad state of America’s once ...

Friday oil rally re-ignites market bulls. Dead Cat Bounce?

WASHINGTON, February 12, 2016 – As Thursday’s meat-grinder trading session limped to an end, bulls and (perhaps) HFTs sought to pull the 2:15 Buy Program Express out of the train station. They only partially succeeded. The widely followed Dow Jones Industrial Average (aka the DJI, DJIA or simply “The Dow”), which had been down a ...

Iran sticks it to the U.S., oil wavers, but stocks rally

WASHINGTON, Jan. 29, 2016 – As of the noon hour Friday, stocks are rallying hard as bulls try to take the tape back from January’s bad news bears. We wish them luck. After oil, specifically West Texas Intermediate (WTI), took a nice swing up Friday morning, it’s now getting whacked again, courtesy of persistent oversupply ...

‘Clobberin’ time’ continues Tuesday as oil remains under pressure

WASHINGTON, December 8, 2015 – U.S. stocks continue to gyrate wildly Tuesday morning, following through from Monday’s disaster, which, in turn, was a reversal from last Friday’s spectacular rally. Confused? So is the Maven and so are just about all the analysts we regularly follow. Not a single tried-and-true investment strategy or technique has proved ...

Iron Sheiks clobber the oil patch in major market smackdown

WASHINGTON, Dec. 7, 2015 – Stocks are experiencing a worse than usual case of the Monday blues today, with all major averages trending down hard. Selling is pretty much across the boards with stocks taking it in the ear as the current double whammy of Saudi oil intransigence and Fed interest rate determination combine to ...

Pfizer [PFE] to acquire Allergan [AGN] as oil catches a bid

WASHINGTON, November 23, 2015 – First of all, last week’s heavily rumored pharmaceutical-health sector deal of the century has officially come together this Monday morning. Drug industry giant Pfizer (symbol: PFE) has just announced a deal to acquire another of the industry’s heavy hitters, Allergan (AGN) for a whopping $363.63 per AGN share. That would ...

Oil continues rally. Saudis, OPEC, ready to cut production?

WASHINGTON, Aug. 31, 2015 – Wall Street futures looked awful late Sunday night and early Monday morning, due to even more Chinese government flailing over the weekend. That included news that the Chinese government would simply drop its market support purchases this weekend, while also “punishing” some 200 alleged financial miscreants. This knocked the props ...

UAE oil sheiks show their hand, but stocks bounce up on jobs

WASHINGTON, January 7, 2015 – In an almost laughably transparent statement Wednesday, United Arab Emirates (UAE) oil minister Suhail bin Mohammed al-Mazrouei told local newspaper The National that oil prices could recover if non-OPEC producers (read “the U.S.A.”) were to “act rationally.” In other words, if the U.S. shuts down its shale oil bonanza, OPEC ...

Santa brings environmentalists oil and gas for Christmas

WASHINGTON, December 23, 2014 – In the 1970s, prognosticators predicted that he world’s then proven oil reserves would be exhausted by 2000; the most pessimistic predicted that oil shortages would be chronic until we exhausted the resource in the early part of this century. Since then, proven oil reserves have continued to grow. New technologies ...

Saudi remarks torpedo tepid oil rally on Wall Street

WASHINGTON, December 3, 2014 – Just when investors in major oil stocks thought it was safe to come out of their bunkers, the Saudis casually fragged them again just after lunch, EST. Our best buddies in the Middle East just sort of, kind of dropped a hint they could live with $60 bbl. crude oil ...

Awash in oil? Oil stocks deep underwater as market plunges

WASHINGTON, December 1, 2014 – Over the Thanksgiving holiday weekend, most Americans traveling by car founded prices at the pump a true wonder to behold. Now well below $3 in most jurisdictions across the U.S., the price drop almost instantly puts more money in the pockets of salary-starved working Americans. But for oil companies and ...

Oil stocks cliff-dive as Saudis stick it to U.S. shale efforts

WASHINGTON, November 28, 2014 – in a previous column, we pretty much promised not to pen another one during the holiday weekend unless—unless something big happened. And by Jove, it did. The Saudis prevailed in the latest OPEC confab by refusing to allow the kind of production cuts that would stabilize the international per barrel ...

Amnesty decree, Ferguson, Hagel sack all weigh on stocks

WASHINGTON, November 24, 2014 – Pretty much everyone including the Maven expects thin, rudderless trading in stocks this weekend, compounded by the low-level overhang of headline risk with some nasty potential. The executive amnesty flap initiated by Emperor Barack I is still stewing about in the lame-duck Congress, the incoming Congress and in the majority ...