The Real Reason Big Oil Bailed On Brazil

Credit: OilPrice.com- Published 2 weeks ago
This year’s final oil auction in Brazil ended in a flop on Thursday, with Big Oil staying away from bidding and only one of five blocks awarded, suggesting that the massive upfront payments and complex royalty schemes have kept the world’s largest oil companies from participating. International oil majors didn’t bid in the...
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Credit: The Street
Published 2 weeks ago -  00:48
Why Jim Cramer Is Taking a Close Look at Oil
Let's talk about oil. When asked what was on the top of his mind, Jim Cramer said that he was taking a close look at oil. Why? "I'm surprised that oil is doing well. I mean it's the first time that there's some notes about how oil could go up a lot. I don't believe them, cause we can flood the world with oil, but it is in the Saudi's interest to have oil go higher cause of the Aramco deal, they could cut back a million, take a couple million off without telling us and maybe oil could go up. We can't make up a couple million. We can make up some...that explains why a Chevron , which didn't have good quarter, could be going higher. We own BP for Action Alerts PLUS, it's been a dog, but it's not anymore...it should also mean that Schlumberger goes up," said Cramer. There's more to oil than just the Aramco deal, however. TheStreet's Martin Baccardax reported that Chevron shares traded at the top of the Dow Jones Industrial Average Monday, after the second largest U.S. oil company agreed to sell its central Asia assets to Hungary's MOL for around $1.6 billion. Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below

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