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USO

United States Oil Fund, LP

http://www.unitedstatesoilfund.com

Industry

Asset Management

USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels.

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The U.S. Energy Information Administration (EIA) has revised its forecast for U.S. crude oil output in 2024, predicting an increase of 310,000 barrels per day, up from the previous forecast of a 270,000 barrels per day increase.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 4:12 pm

The U.S. Energy Information Administration (EIA) has revised its forecast for U.S. crude oil output in 2024, now expecting production to rise to 13.24 million barrels per day, up from the previous forecast of 13.20 million barrels per day made in May.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 4:10 pm

The U.S. Energy Information Administration (EIA) has raised its forecast for world oil demand growth in 2024 by 180,000 barrels per day, now expecting a year-over-year increase of 1.10 million barrels per day. Additionally, the EIA has increased its forecast for 2025 world oil demand growth by 80,000 barrels per day, now anticipating a year-over-year increase of 1.50 million barrels per day.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 4:05 pm

OPEC has adjusted its oil demand forecasts for 2024, reducing the Q1 estimate by 50,000 barrels per day to 103.51 million barrels per day, while increasing the Q2 forecast by 50,000 barrels per day.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:03 pm

OPEC has left its 2024 world oil demand growth forecast unchanged at 2.25 million barrels per day and its 2025 forecast unchanged at 1.85 million barrels per day.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 12:02 pm

Global markets showed mixed performance with U.S. indices closing higher, while Asian and European markets experienced declines. Key movements included Apple shares falling, Southwest Airlines surging due to Elliott Investment's stake, and Diamond Offshore soaring after Noble's acquisition announcement. The Federal Reserve is expected to maintain the federal funds rate. Commodities and futures showed varied performance, and the U.S. Dollar Index rose.

Portfolio Pulse from Akanksha Bakshi

June 11, 2024 | 10:59 am

Europe is engaging in negotiations to ensure the continued flow of gas through the Russia-Ukraine pipeline, as reported by Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 5:44 pm

U.S. stock markets ended lower due to stronger-than-expected job figures, raising concerns about potential delays in interest rate cuts by the Federal Reserve. The S&P 500, Dow Jones, and Nasdaq all closed lower. Asian markets saw gains in Japan, while European markets fell, particularly in France due to political instability. Commodities showed mixed performance, and the U.S. Dollar Index rose.

Portfolio Pulse from Akanksha Bakshi

June 10, 2024 | 10:57 am

The United Nations has added Israel's military, Hamas, and Palestinian Islamic Jihad to a list of offenders for child rights violations. Israeli Prime Minister Netanyahu will address the U.S. Congress in July. Israeli stocks, tracked by the iShares Israel ETF (EIS), fell due to a weakening shekel. Oil prices, tracked by the United States Oil Fund (USO), also declined.

Portfolio Pulse from Piero Cingari

June 07, 2024 | 7:58 pm

The latest Baker Hughes report shows a decrease in the U.S. oil rig count by 4 to 492, and the gas rig count by 2 to 102, bringing the total rig count to 594 from 600 previously.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 5:05 pm

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