OPEC Deals Have Effectively Collapsed

Robert Boslego - INO.com Contributor - Energies

When OPEC announced its agreement 30 November 2016, it pledged to bring its collective ceiling to 32.5 million barrels per day (mmbd), effective 1st of January 2017. At the time, that ceiling included Indonesia, which was in the process of withdrawing from the cartel. The adjusted ceiling, therefore, became about 31.76 mmbd, excluding Indonesia’s 740,000 b/d output.

The deal was extended at the end of May for an additional nine months through March 2018. At the press conference, OPEC president and Saudi energy minister, Khalid Al-Falih, answered a question about the rising production in Libya and Nigeria. He responded by saying that other OPEC members would adjust their output accordingly to allow, for their increases.

But data throughout 2017, and most recently June, reveal no such adjustments have been made. According to Reuters, June production averaged 32.57 mmbd, about 820,000 b/d above its ceiling, as adjusted.

And Libyan production has continued to rise, topping 1.0 mmbd at month’s end. Nigerian exports are scheduled to reach at least two mmbd in August, 500,000 b/d higher than in the cartel’s base month (October 2016).

OPEC’s output in October was around 33.7 mmbd (including Indonesia). And so June’s production of 33.3 mmbd (including Indonesia) is only about 400,000 b/d lower.

Based on the above expectations for rising output in August, the OPEC deal is effectively dead. OPEC production will be back to about where it was in October. Continue reading "OPEC Deals Have Effectively Collapsed"

Aurora Delivers 2,500% Revenue Growth in 12 Months

Analysis originally distributed on May 19, 2017 By: Michael Vodicka of Cannabis Stock Trades

First-quarter earnings season is almost over.

And the cannabis sector has been knocking it out of the park.

A lot of the stocks that we have covered over the last few months have stepped up and delivered excellent results.

Let's take a closer look.

In terms of pure growth, the best report I've seen came from Aurora Cannabis (ACBFF), one of the largest medical cannabis companies in Canada

Revenue jumped 2,500% from the same period last year to $5.2 million and was up 33% from just last quarter. Continue reading "Aurora Delivers 2,500% Revenue Growth in 12 Months"

Stocks Lingering Near All-Time Highs

Hello MarketClub members everywhere. The S&P 500 and the Nasdaq touched record highs for the second straight day following a batch of upbeat corporate earnings, while Emmanuel Macron's victory in the French presidential election improved risk appetite.

The VIX, Wall Street's "fear gauge," hit its lowest level in more than a decade earlier in the day. A lower VIX typically indicates a bullish outlook for stocks.

MarketClub's Mid-day Market Report

Oil prices headed lower today over concerns about slowing demand and the rise in U.S. crude output which has shaken traders faith in the ability of OPEC to rebalance the market.

Key levels to watch this week: Continue reading "Stocks Lingering Near All-Time Highs"

Promo Code For Your Snow Day

Are you one of the millions getting hit with snow on the east coast?

What a great time to sit down, review your investment strategy and take advantage of the snow day.

Are you missing out on a strong trending stock or ETF? Are the stocks in your portfolio signaling a reverse?

With promo code 1DOLLAR you can use MarketClub's tools to quickly review your portfolio, find new trades, and see real entry and exit signals on over 320K stock, futures, ETF and forex symbols. All for only $1 for your first month!

With this special offer, you'll have instant access to some of the best, un-biased trading tools on the web:

  • Trade Triangle entry and exit signals
  • Smart Scan market scanning tools
  • Customizable charts and alerts
  • Portfolio Manager
  • And more...

Click here to learn more.

Enter promo code 1DOLLAR on the MarketClub signup page and click "Apply" to instantly see your membership discount.

Act fast, the promo code is only valid until tomorrow evening!

Every Success,
The MarketClub Team
1-800-538-7424 | support@ino.com