Shale CEO Sees Producers Staying Disciplined at $70 Crude Oil

America’s shale producers will keep output in check even as global crude oil prices near $70 a barrel, Ovintiv Inc. Chief Executive Officer Doug Suttles said in an interview with Bloomberg Television.
Explorers are focused on low growth, strong operating performance and returning cash to shareholders, Suttles said. Ovintiv is prioritizing paying down debt and maintaining its dividend, he said.

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30 April 2021

 

Video commentary for April 29th 2021

 

Eoin Treacy’s view

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EBay Warns Pandemic Sales Boost Could Soon Fade; Shares Tumble

This article from Bloomberg may be of interest to subscribers. Here is a section:

 

EBay Inc. warned investors that its sales boost tied to the pandemic and government stimulus checks may be coming to an end.

Shares tumbled as much as 7% in extended trading Wednesday after the online marketplace issued a revenue forecast for the current quarter suggesting spending on the site could recede as more people get vaccinated, businesses reopen and stimulus checks dry up.

Investors are watching to see which companies can build on their pandemic gains and which will fade. Google parent ., . and Inc. all hinted at lasting momentum in their earnings reports this week, sending their shares higher. EBay joined social media platform . as a potentially short-lived pandemic phenom.

“This is a relative challenge for EBay to not be able to fully hang on to the gains from the pandemic,” said Ygal Arounian, an analyst at Wedbush Securities Inc.

 

Eoin Treacy’s view

Rebounding consumer behaviour, renewed hiring and generous handouts have boosted earnings for all manner of consumer companies in the first quarter. That has been particularly true for the mega-caps with Apple, Google, Facebook and Microsoft all posting impressive results.

The fact that about half of people are better off unemployed than working has also helped to boost consumption of goods in particular. Those benefits will expire in September so there is still room for revenue support absent the spikes associated with stimulus cheques. 

 

Shale CEO Sees Producers Staying Disciplined at $70 Crude Oil

This article from Bloomberg may be of interest to subscribers. Here is a section:

America’s shale producers will keep output in check even as global crude oil prices near $70 a barrel, Ovintiv Inc. Chief Executive Officer Doug Suttles said in an interview with Bloomberg Television.

Explorers are focused on low growth, strong operating performance and returning cash to shareholders, Suttles said. Ovintiv is prioritizing paying down debt and maintaining its dividend, he said.

Private operators’ ability to weigh on oil prices by ramping up production is limited after recent tie-ups with publicly traded companies, Suttles said. While closely held producers have more influence on the natural gas market, “it’s a little bit of a concern, not a big one,” he said.

 

Eoin Treacy’s view

European natural gas prices have bounced impressively from the region of the trend mean and are quickly approaching the highs of the last decade. That is likely to encourage more sea-borne gas into the market which is contributing the US prices bouncing impressively from the trend mean.

 

The new Chrysalis Network is Live!

This news release from iota.org may be of interest to subscribers. Here is a section:

The time has finally come. With Chrysalis, IOTA is now enterprise-ready and has entered a new era of adoption, serving as a base layer for the machine economy, the Internet of Things and beyond, enabling new use cases and setting standards in data and value transfer. All of this is achieved without fees and while maintaining a minimal environmental footprint.

Partners, academia, and developers can now start to build on the Tangle and plan for the future.  There will not be substantial changes on the way to IOTA 2.0, Coordicide, as the majority of the code-base including tools, libraries, and APIs already exists in Chrysalis. Projects built on today’s codebase will not require major refactoring later on.

With the work for Chrysalis complete, many of the Foundation’s engineers are now able to fully focus on Coordicide, Digital Assets and Smart Contracts. The next major milestone to a fully decentralized IOTA 2.0 is around the corner, with the Nectar network launching in just a few weeks!

Nectar will be the first complete implementation of the major Coordicide modules, which will be followed by the launch of the incentivized testnet. The goal of this network is to discover any bugs and issues and make any refinements before a release candidate for the IOTA mainnet.

IOTA will become the first production-ready DLT network based on a fully decentralized leaderless consensus protocol that is scalable, feeless and secure. This is a tremendous pioneering achievement and milestone for the innovation of distributed ledger technology. All achieved without requiring any miners or wasting resources.

 

Eoin Treacy’s view

IOTA gets faster the more it is used which makes it ideal for scalability and it does not require millions of machines running in tandem to solve algorithms to do it. The challenge is that until now it has had to rely on central coordination to achieve these feats. The ambition of the teams supporting IOTA’s Tangle (its rough equivalent of the blockchain) has been to achieve coordicide. That would enhance independence and turn IOTA into a true decentralised network. Today’s announcement brings that moment much closer.

 

Eoin’s personal portfolio: breakeven stop introduced

Eoin Treacy’s view

One of the most commonly asked questions by subscribers is how to find details of my open traders. To make it easier I will simply repost the latest summary daily until there is a change.

 

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