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OPEC and allied producers will consider extending an agreement to cut oil output into 2019 when they meet in June to assess the market, Kuwait Oil Minister Bakheet Al-Rashidi said.
Oil prices could climb to more than $50 a barrel in the near future.
Oil’s recovery will lift energy ETFs and stocks, particularly the liquids-focused independent oil and gas producer ConocoPhillips.
ConocoPhillips has proven that it can generate free cash flows and profits in a weak oil price environment.
The company also offers a dividend yield of 2.4%, which is backed by decent financial health.
Last November ConocoPhillips (NYSE:COP) outlined its strategy to create value amid a volatile oil market, along with actions to accelerate its value proposition. Among those efforts was a plan to monetize $5 billion to $8 billion of non-core assets and use $3 billion of the proceeds to repurchase stock.
GeoPark made a new discovery in the CN-V block in the Neuquen Basin, Argentina
Emergency management programs are in place for “when” an emergency happens, not “if” an emergency happens.
The development engineers at KSB have not only improved the operating reliability of the proven waste water hydraulic systems but also increased the pump’s hydraulic efficiency. KSB introduces the new generation KRT with the new Max impellers.
Duty-free operators eye new ways to encourage time-pressed travellers to spend
Summary
Schlumberger managed to improve its revenues, earnings and margins in Q2 2017, even as oil prices weakened and drillers deployed fewer additional rigs.
Schlumberger as well as Wall Street are expecting a strong performance in the second half of 2017.
But in a tough business environment, the actual recovery might turn out to be less robust.
