Bonds of US high yield oil companies dropped with the likes of Occidental (Oxy), Laredo Petroleum, SM Energy and Northern Oil falling ~3%. The move in bonds happened after the OPEC+ members agreed to boost production which saw Brent Crude fall below $70/bbl for the first time since last month, currently at $68.6/bbl. The OPEC+ reached a deal over the weekend to allow monthly production increases of 400,000 barrels a day from August after the UAE and Saudi Arabia ended their standoff. Analysts say this can ease the supply squeeze in the market and reduce inflationary risks driven by a spike in oil prices.
Recent Posts
- Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
- Vedanta Denies Rumors on Stake Sale; Indian Subsidiary Mulls Interim Dividend
- Commerzbank Upgraded to A- on Strong Bail-In Debt Buffer
- Casino Guichard’s Bonds Drop Post Downgrade to Caa1
- Egypt-World Bank Agree On $7bn 5-Year Partnership
Archives
Categories
REGISTER FOR A FREE TRIAL

- Two-way Bond Prices
- Portfolio Analytics
- Bond Market News
- New Bond Issue Alerts
- Bond Screener
- Bond Prices
- Bond Market News
- New Bond Issues