U.S. President Biden Administration 5-Year Off Shore Oil Plan To Be Released On Friday Does Not Include Any Sales For 2024
Portfolio Pulse from Benzinga Newsdesk
The Biden Administration is set to release a 5-year offshore oil plan on Friday, which does not include any sales for 2024, according to Reuters.
September 28, 2023 | 7:57 pm
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NEGATIVE IMPACT
The SPY ETF, which includes energy sector stocks, may be indirectly affected by the Biden Administration's offshore oil plan.
The SPY ETF includes energy sector stocks. The Biden Administration's offshore oil plan, which excludes any sales for 2024, could potentially impact the performance of these stocks, and consequently, the ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The USO ETF, which tracks the price of oil, may be impacted by the Biden Administration's offshore oil plan.
The USO ETF tracks the price of oil. The Biden Administration's offshore oil plan, which excludes any sales for 2024, could potentially impact the price of oil, and consequently, the ETF.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70