Oil Rally Falters After Saudis Vow To Boost Production Further [Investor's Business Daily]
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Investors Business Daily
Oil's rebound from its biggest crash in a generation faltered after Saudi Arabia said it would boost its production capacity, while there were also doubts whether the U.S. could deliver sufficient stimulus to support prices. Brent crude fell 1% in London after being up almost 7% earlier. Saudi Aramco said Wednesday it was making maximum efforts to boost its oil production capacity to 13 million barrels a day from 12 million after pledging to supply a record 12.3 million barrels a day next month in a massive increase. In the U.S., President Donald Trump pitched a payroll tax holiday and relief for the travel and hospitality sectors to combat the virus's impact, while some Republican senators suggested a bailout for the shale industry. The Trump administration's willingness to revive the economy comes after the disintegration of OPEC+ and subsequent plunge in oil prices threatened the U.S. shale industry and spurred an indiscriminate sell-off in markets already reeling from the coronavi
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ICE
Earnings
- 10/31/24 - In-Line
ICE
Sec Filings
- 11/15/24 - Form 4
- 11/15/24 - Form 4
- 11/15/24 - Form 4
- ICE's page on the SEC website