Oil prices and stocks have taken a hit in recent months, but one analyst predicts a rebound in 2024. Peter Low of Redburn Atlantic highlights three companies, Shell, BP, and Exxon Mobil, as potential winners that could deliver a 20% or higher return for shareholders. The Outlook for Shell, BP, and Exxon Mobil Low had already rated Shell as a Buy, but he recently upgraded his … [Read more...] about Big Oil Poised for Rebound in 2024, Says Analyst
Oil
Oil Futures Bounce Back Despite Weak Chinese Demand
Oil futures rebounded on Thursday after a two-day drop, ignoring data that indicated weak consumer demand in China. Despite the setback, crude prices attempted to recover, reaching their lowest level since mid-July. Price Action West Texas Intermediate crude for December delivery rose by 54 cents, or 0.4%, to $75.87 a barrel on the New York Mercantile Exchange. January Brent … [Read more...] about Oil Futures Bounce Back Despite Weak Chinese Demand
Oil Peaks to a Pandemic High Amid Freezing Weather Impacts on Demand and Production
West Texas Intermediate crude is on pace to settle above $60 a barrel, the first time since the early days of the coronavirus pandemic. According to CNBC, the oil rally was caused by rise in demand for power and fuel due to cold weather in some parts of the U.S that also threatened production. WTI crude futures rose 67 cents or 1.1% to $60.14 a barrel on Monday morning … [Read more...] about Oil Peaks to a Pandemic High Amid Freezing Weather Impacts on Demand and Production
