Pioneer Natural Resources Executive Says Oil Demand Continues To Rise, But Supply Growth Remains Limited; Says Recessionary Fears' Impact On Global Crude Oil Will Be Offset By China's Demand
Portfolio Pulse from Benzinga Newsdesk
Pioneer Natural Resources executive states that oil demand continues to rise, while supply growth remains limited. Recessionary fears' impact on global crude oil will be offset by China's demand.
June 08, 2023 | 1:45 pm
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POSITIVE IMPACT
Pioneer Natural Resources may benefit from rising oil demand and limited supply growth, as well as China's demand offsetting recessionary fears.
As an oil producer, Pioneer Natural Resources (PXD) stands to benefit from rising oil demand and limited supply growth. The company's revenues may increase due to higher oil prices, and China's demand offsetting recessionary fears will help maintain global crude oil demand.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
United States Oil Fund (USO) may see positive short-term impact due to rising oil demand, limited supply growth, and China's demand offsetting recessionary fears.
United States Oil Fund (USO) is an ETF that tracks the performance of crude oil. With rising oil demand and limited supply growth, as well as China's demand offsetting recessionary fears, USO may see a positive short-term impact on its performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60