ProShares Ultra Bloomberg Crude Oil (UCO) Dividend History
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ProShares Ultra Bloomberg Crude Oil currently does not pay dividends
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The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, are expected to extend their current production cuts this weekend, as per delegates and analysts. What Happened: The OPEC+ alliance, which was scheduled to meet in person in Vienna on Jun. 1, has now moved the meeting to a virtual platform on Jun. 2. The group is currently implementing a combined 5.86 million barrels per day of supply cuts, with 2 million barrels per day set to expire at the end of this year, as per a CNBC report on Tuesday. Market participants are closely watching whether the remaining 2.2 million barrels per day of cuts, which are in place until the end of the second quarter, will be extended. This is in light of projected demand increases, particularly in the summer months. Three OPEC+ delegates, speaking on the condition of anonymity, told CNBC that the 2.2 million-barrels-per-day supply reductions are likely to be prolonged. The group is also monitoring individual members’ quota compliance and has requested overproducers to implement additional cuts, with Iraq and Kazakhstan having detailed compensation plans. The OPEC+ coalition’s decision ...Full story available on Benzinga.com
Benzinga -
U.S. oil production is at record levels, as data from the Energy Information Administration puts 2023 production of crude oil on its way to break pre-pandemic records. The U.S. has been the top world producer of crude oil since the mid-2010s, a fact that has gone under the radar for much of the public. The latest data, from September, show a daily production of 13.2 million barrels a day, beating the previous record set in November 2019 of 13 million barrels. The global oil market entered bear territory last week, even as OPEC+ nations agreed on new oil cuts. U.S. record oil production is helping push the needle towards declining prices as stockpiles in the U.S. beat market expectations. On Monday, the national average price for regular gasoline was $3.15 per gallon. This average peaked at $4.84 per gallon in June 2022 during a period of extremely high inflation and dipped to as low as $2.97 in December 2022. According to Axios, the Biden administration walks a thin line ...Full story available on Benzinga.com
Benzinga -
October’s numbers did not look good, but November picked up momentum and December may be better, so fourth-quarter GDP may come in better than first feared.
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The launch of COP28 on Thursday is the latest glimpse at the ongoing effort to decarbonize the global economy. Whether its goal is to be a force for good or, as the BBC recently revealed, serve "as an opportunity to strike oil and gas deals" remains unclear. Either way, the so-called “Conference of the Parties” says a lot more than what's coming from its climate talks: it's lending a view into geopolitics, political alliances, power friendships, and the fate of the oil sector. Earlier this month, a report by the UN’s Environment Program warned that the emissions goals set during the landmark Paris Agreement of 2015 are not enough to keep global temperatures under the established limit of 1.5°C (2.7°F) below pre-industrial levels. Current projections put the course of average temperatures at a catastrophic 2.9°C (5.2°F) rise above pre-industrial levels before 2100. The UAE Paradox: The designation of Sultan Al Jaber as president of the climate conference has been a major source of controversy. After all, he is the CEO of the Abu Dhabi National Oil Company, a UAE state-owned oil company that ranks as the 12th largest producer in the world and 14th largest greenhouse gas polluter. The BBC, citing leaked documents, reported this week that the UAE intends to use its role as host as a way to close fuel deals with 15 other nations. The paradox of having an oil baron at the helm of the world's most important summit on climate change, which itself is being held in Dubai, a city built by wealth ...Full story available on Benzinga.com
Benzinga -
Headline US consumer price inflation fell sharply from a peak of 9.1% year-on-year in June 2022, hitting a low of 3% in June 2023.
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