SI Research: Oil & Gas Industry Outlook

It has almost been three years and the oil market still seems awash with crude. Despite the Organisation of The Petroleum Exporting Countries’ (OPEC) best efforts, the 14-member body that controls more than 81.5 percent of world’s oil reserves and produces almost 50 percent of world production, has failed to help lift oil prices meaningfully.

Bloomberg: Crude Oil’s Biggest Tumble Since March In 3 Charts

Oil’s 5 percent tumble Wednesday, the biggest slide since March, followed government data that showed U.S. crude and fuel stockpiles unexpectedly soaring at a time of year when they normally decline. Here are three charts showing what made oil bulls run scared.
The 172nd Organization Of Petroleum Exporting Countries (OPEC) Conference

Bloomberg: OPEC Deal Extension Isn’t Enough For Oil Traders

Hedge funds trimmed bets on rising crude prices to the lowest level since November as oil futures dipped below $50 a barrel amid scepticism that an OPEC-led campaign to cut output will soon curb a worldwide supply glut. Speculators fled bearish positions for a second week.

Dr Chan: 2 Types of Stocks to Buy when Renminbi Appreciates

Hong Kong’s Nan Fung Development has purchased a commercial site in the Kai Tak district at the price of HK$12,864 per square foot. Last November, Lifestyle International Holdings Ltd (1212.HK) had purchased another Kai Tak site at HK$7.39 billion (only HK$6,733 per square foot). Hence, we can see that the land price of Kai Tak’s commercial site has risen by 91 percent within half a year.

Bloomberg: OPEC Wins Hedge Funds With Jump In Oil Bets

When the Energy Information Administration reports on June 1 and if U.S. stockpiles shrank for another week, oil investors will have a chance to reassess if their frustration following the OPEC meeting was exaggerated.