Last week, Chevron’s paid $33 billion to buy Anadarko Petroleum. You see, Chevron wanted Anadarko’s oil shale properties in the Permian Basin. The Permian Basin is now the largest oil-producing region in the United States and the second largest globally.
So who is the next player to make a move because in any business you have to keep up with the Joneses to remain competitive and in some cases, survive.
Another player in the US is ExonMobile. Yes, they explore off shore, but their bread and butter is really downstream, refining oil into other products.
As a result, when you rises the
The US Fed held the target for the benchmark rate steady at 2.25% to 2.50%. Fed Powell indicated no rate hikes 2019. With rates potentially at their peak for this cycle and future GDP projections declining slashed, this recipe could spell trouble for the bank stocks.
Typically, financial entities like banks, insurance companies, brokerage firm generally benefit from higher interest rates. Increases in interest rates, mean the economy is doing good. Banks make loans to borrowers at a higher rate than non-performing assets such as savings accounts and CDs and profit from the difference. However, in an environment in which the