Oil & Gas Industry – Industry Outlook
Zacks Market Commentaries (November 5th, 2009) Writes:
OUTLOOK
The improving economic scene, both here in the U.S. as well as worldwide, is the main driver of the current oil rally that has seen the commodity settling around the $80 per barrel level. But high levels of product inventories (particularly gasoline), along with still higher supplies, will limit any sustained crude gains, in our view. But way too many factors weigh on oil prices, from OPEC decisions and geostrategic tensions to the value of the U.S. dollar and seasonal variables, to definitively size up each one of them for their respective impact on prices.
In its latest release, the Energy Information Administration (EIA) reported a less-than-anticipated increase in crude stockpiles, which rose by 800,000 barrels for the week ending October 23. However, current crude oil stocks, at 339.9 million barrels, still remain 9% above the year-earlier level as well as above the upper limit ...
Tags for this Post:
Addax, Americas, Asia, Cameron International, Chemical Corporation, China, China Petroleum, Cnooc Ltd, crude oil, crude oil stocks, energy, energy information administration, Energy Prices, energy-monitoring body, Gulf Coast, gulf of mexico, Henry Hub, international energy agency, Investing Lessons, Nabors, Natural Gas, Natural Gas Prices, Natural Gas Producer, natural gas-weighted, North America, Oil, oil and natural gas producer, oil demand, oil price environment, Oil Prices, oil rally;, oil refiners, oilfield services group, Organization Of Petroleum Exporting Countries, Paris, Patterson;, refined petroleum products, Smith International Inc, Stocks to Watch, Stone Energy Corp., unconventional natural gas fields;, United States, USD, Valero Energy Corp, W-H Energy, Zacks Market Commentaries
Addax, Americas, Asia, Cameron International, Chemical Corporation, China, China Petroleum, Cnooc Ltd, crude oil, crude oil stocks, energy, energy information administration, Energy Prices, energy-monitoring body, Gulf Coast, gulf of mexico, Henry Hub, international energy agency, Investing Lessons, Nabors, Natural Gas, Natural Gas Prices, Natural Gas Producer, natural gas-weighted, North America, Oil, oil and natural gas producer, oil demand, oil price environment, Oil Prices, oil rally;, oil refiners, oilfield services group, Organization Of Petroleum Exporting Countries, Paris, Patterson;, refined petroleum products, Smith International Inc, Stocks to Watch, Stone Energy Corp., unconventional natural gas fields;, United States, USD, Valero Energy Corp, W-H Energy, Zacks Market Commentaries


![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
