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Stock impact report

Oil prices rebound after early slide, as surveys show declining output [Seeking Alpha]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Seeking Alpha
Oil prices rebound after early slide, as surveys show declining output Crude oil prices rose +1.2% +1.9% OPEC produced 32.68M bbl/day of oil in December, down 460K bbl/day from the previous month, according to a Reuters survey "Oil is flip-flopping on concerns of supply and demand," says Price Futures analyst Phil Flynn. "It’s really a battle between the supply situation, which looks to be tightening, versus the possibility that demand will drop off." Today’s "volatility across risk assets, including energy, is growth related and fears of a slowing global economy continue to be a major headwind Sevens Report "Oil is due for a bounce as futures are oversold but without a notable catalyst, and a rebound in stocks, it will be hard for WTI to rally beyond resistance in the low $50s," Richey adds. Most oil and gas stocks trade lower, along with the rest of the equity market: XOM -1.4% CVX -1.7% COP RDS.B -0.2% BP +0.5% ETFs: USO XLE OIL UWT UCO VDE XOP DWT ERX OIH SCO BNO DBO ERY DIG BGR G Show less Read more
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