Episode 214 - Early earnings look good, will the pattern continue?
Subscribe to the YouTube Channel - https://www.youtube.com/c/WarRoomMediaOn this episode of the Texas Oil and Gas Podcast, Ryan Ray and Josh Shelton discuss the early earnings reports. https://www.investopedia.com/exxonmobil-q2-fy2021-earnings-report-recap-5194813https://www.cnbc.com/2021/07/30/chevron-cvx-exxon-xom-earnings-q2-2021.htmlhttps://www.forbes.com/sites/davidblackmon/2021/08/02/forget-about-peak-oilwe-havent-even-reached-peak-coal-yet/?sh=14007fef2a9bOIL MARKET: On our Bloomberg monthly OPEC oil output survey, **7 nations out of 13** in the cartel were unable to increase production in July, despite higher quotas (and prices). Overall OPEP output did increase, however, thanks to higher Saudi outputOIL MARKET: According to @TSA data, the number of people flying in the U.S. hit yesterday a new high of 2.23 million (and, for the first time since the pandemic started, the last four days in a row have seen >2 million passengers in the U.S.)COMMODITY INFLATION: Heineken, the world’s second-largest brewer, says it's experiencing inflationary pressures not seen at any time in the past decade (aluminum prices and freight costs singled out). https://www.mrt.com/business/oil/article/Drilling-activity-continues-climb-in-Permian-Basin-16353360.php https://www.reuters.com/business/energy/australias-santos-hikes-bid-oil-search-690-bln-2021-08-01/Chevron (CVX) Exxon (XOM) earnings Q2 2021 beat estimateshttps://www.cnbc.com/2021/07/30/chevron-cvx-exxon-xom-earnings-q2-2021.htmlhttps://www.mrt.com/business/oil/article/Pinnacle-Midstream-expanding-Dos-Picos-System-16348924.phphttps://www.mrt.com/business/oil/article/Grenadier-Energy-III-targets-unconventional-16348935.phphttps://www.hartenergy.com/exclusives/marketed-endeavor-energy-resources-permian-basin-package-195444https://www.hartenergy.com/exclusives/pioneer-natural-resources-warns-832-million-loss-195352