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Middle East Oil Flows Surpass Prewar Levels, but Don’t Bet on Price Drops

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Middle East Oil Flows Surpass Prewar Levels, but Don’t Bet on Price Drops

Preliminary estimates suggest regional flows hit roughly 24 million barrels per day last week, passing the prewar 23.3 million.

Directly affected

  • No company is named in this report.

Indirectly affected

  • XOM Exxon Mobil

    Oil producers earn more when crude prices rise

  • CVX Chevron

    Oil producers earn more when crude prices rise

  • OXY Occidental Petroleum

    Oil producers earn more when crude prices rise

  • COP ConocoPhillips

    Oil producers earn more when crude prices rise

  • VLO Valero

    Refiners' profits move with crude and fuel prices

  • MPC Marathon Petroleum

    Refiners' profits move with crude and fuel prices

  • XOP SPDR S&P Oil & Gas Exploration

    A fund of oil and gas producers

  • XLE Energy Select Sector SPDR

    A fund of energy companies

  • USO United States Oil Fund

    This fund moves with oil prices

  • OIH VanEck Oil Services

    Oilfield services rise when drilling follows oil prices

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
XOM———————
CVX———————
OXY———————
COP———————
VLO———————
MPC———————
XOP———————
XLE———————
USO———————
OIH———————

Middle East Oil Flows Surpass Prewar Levels, but Don’t Bet on Price Drops The Daily Upside

Source: The Daily Upside

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How solid the energy case looks

12 out of 100

“Middle East Oil Flows Surpass Prewar Levels, but Don’t Bet on Price Drops” scores 12 out of 100. The score uses 1 sources.