Plunging oil prices unleash short sellers on oilfield service companies, ETFs
Kinder Morgan Is Prepared To Control The Oil Industry For Its Own Good
Crude oil rises, Saudi Arabia reportedly cut oil supply to market in September
production, as is the norm, or protects its market share by keeping production steady. ETFs: USO , XLE , OIL , UCO , ERX , VDE , OIH , SCO , ERY , XOP , DIG , BNO , UGA , DTO , DBO , DUG , IYE , IEO , CRUD , PXE , USL , UWTI , PXJ , FENY , DNO , DWTI , RYE
Oil services ( OIH +4% ) rip higher at the open following a strong earnings report from Schlumberger ( SLB +7.4% ) and as oil prices stabilize
today's close. Earlier : Baker Hughes misses estimates on weaker Gulf of Mexico drilling activity. ETFs: USO , OIL , UCO , OIH , SCO , BNO , DTO , DBO , CRUD , USL , UWTI , DNO , DWTI , SZO , OLO , TWTI , OLEM Post your comment!
6% in the Middle East and Asia Pacific region, 8% in the Europe, Africa and Russia Caspian segment, and 3% in Latin America. Oil services stocks (NYSEARCA: OIH ) to watch: HAL , SLB . SPN , NOV , CAM , FTI , DRQ . Post your comment!
Gasoline Fund ( UGA -3% ). Carving out a moderate advance, the major averages are getting no help from the energy sector ( XLE -0.5% ). ETFs: XLE , ERX , VDE , OIH , ERY , DIG , DUG , IYE , PXJ , FENY , RYE , FXN , DDG 2 comments!
The XLE is down 17.7% since mid-July, and within the energy sector, the drillers have seen the worst of it, with the OIH down 24.1% over the same period. When it comes to the drillers, analysts are forecasting increasing idle time for drilling
Arabia in cutting oil prices likely will create " stiff headwinds " for companies in the oilfield services industry (NYSEARCA: OIH ), according to a new report from Sterne Agee's Stephen Gengaro, though bigger players such as Schlumberger and Halliburton