Story: link here. OXY posts profit on soaring crude prices.
- monthly output: 1.19 million boepd, compared with 1.14 million boepd a year earlier
- net income: $1.34 billion, or $1.37 per share
- last year: a net loss of $1.31 billion or $1.41 per share
- results to be reported after close of business Thursday
Dated Brent: assessed at $106.52 / bbl -- February 24, 2022 -- highest since July 2014. Up over $6/bbl, day-over-day.
Gasoline demand, link here. One thing "is for sure," the EIA graphic is not reflecting what GasBuddy has been telling us all week. And the question needs to be asked: to what extend is "demand destruction" affecting "gasoline demand"? This is not a particularly encouraging graphic for those hoping on a robust US economy coming out of the pandemic:
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