Shell Enhances Shareholder Value With Major Buyback
Oil Stocks Lead European Equities Traded in the US as American Depositary Receipts Sharply Lower in Tuesday Trading
Why ExxonMobil, Shell, and ConocoPhillips Stocks Dropped Tuesday
WTI plummeted nearly 5% at one point! Economists warned: Saudi Arabia may increase production to launch a battle for market share.
Previously, there were media reports that individuals familiar with Saudi Arabia's thinking revealed that Saudi Arabia will abandon the $100 per barrel oil price target and strive to resume oil production growth in December this year.
US stocks abnormal movement: oil & gas stocks generally fell, OPEC has lowered its oil demand growth expectations for three consecutive months.
October 15th, Gelonghui: Total Crash more than 4.7%, Shell, bp plc fall more than 3%, exxon mobil drops 2.8%, petroleo brasileiro sa petrobras sinks over 2.2%. On the news side, OPEC has cut its oil demand growth expectations for this year and next year by 0.1 million barrels/day, to 1.93 million barrels/day and 1.64 million barrels/day respectively, marking the third consecutive month of downward revisions in demand growth expectations. In addition, according to the Washington Post citing American officials, Israeli Prime Minister Netanyahu recently informed US President Biden in a call that Israel plans to strike military facilities in Iran, not oil facilities or nuclear facilities.
The sharp drop in oil prices has pushed down inflation expectations, with the 'global asset pricing anchor' falling back from its two-and-a-half-month high.
Crude oil futures prices fell sharply by over 5%, while USA 10-year Treasury bond prices saw the largest increase in two weeks.