Confirming The Conference Board's earlier disappointment, it appears the American public is chock-full of "cynics" and "fiction-peddlers" as Gallup reports Americans' confidence in the U.S. economy reached its lowest weekly level so far in 2016.
The latest figure represents a four-point drop from the previous week's average. The last time Gallup found a lower weekly score was in August 2015.
Yesterday, when reading through Pioneer's results we stumbled on something unexpected: not only was the company pumping more than its had previously guided, but announced it was waiting for $50/barrel to reactivate five to ten horizontal drilling rigs. To wit:
Submitted by Tim Price via SovereignMan.com,
Via Dana Lyons' Tumblr,
Does an unprecedented show of positive breadth foretell a quick end to stocks’ recent struggles?
Submitted by Charles Kennedy via OilPrice.com,
Venezuela - home to the largest oil reserves in the world - will for the next 40 days experience a four-hour blackout every single day, and there are fears that the rationing could lead to unrest and trigger a decline in oil output at a time when the country is barely hanging on.