OPEC & Oil - Loose Lips Sink Ships

OPEC oil ministers are arriving in Vienna for OPEC's June 2nd meeting, and they are being sought out for comment by the media. On Tuesday, one minister freely responded to a question about the oil market that led investors to construe that OPEC is unlikely to take any action this week on production. OPEC is an important factor for oil, but most analysts already expect inaction this week. If oil slides on superficial drivers, it should be purchased on weakness given that a substantial catalyst in another supportive inventory data point is likely arriving on Thursday. I am looking for oil prices to recover in short time, and have taken a new long position in United States Oil (NYSEARCA:USO). See the whole story at Loose OPEC Lips Sink Oil Ships.

Energy Relative Shares	05-31-16
SPDR S&P 500 (NYSE: SPY)	-0.2%
United States Oil (NYSE: USO)	-0.9%
iPath S&P GSCI Crude Oil (NYSE: OIL)	-1.4%
United States Natural Gas (NYSE: UNG)	+5.5%
Energy Select Sector SPDR (NYSE: XLE)	-0.4%
SPDR S&P Oil & Gas E&P (NYSE: XOP)	+0.7%
Market Vectors Oil Services (NYSE: OIH)	-0.1%
Exxon Mobil (NYSE: XOM)	-1.1%
Chevron (NYSE: CVX)	-1.0%
B.P. (NYSE: BP)	-3.0%
TOTAL S.A. (NYSE: TOT)	-1.0%
ConocoPhillips (NYSE: COP)	-1.2%
Phillips 66 (NYSE: PSX)	-0.3%
Occidental Petroleum (NYSE: OXY)	-0.9%
Schlumberger (NYSE: SLB)	-1.1%
Halliburton (NYSE: HAL)	-0.9%
Chesapeake Energy (NYSE: CHK)	+3.1%
Pioneer Natural Resources (NYSE: PXD)	-0.8%

DISCLOSURE: Kaminis is long USO. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article interests energy investors including Exxon Mobil (NYSE: XOM), BP (NYSE: BP), PetroChina (NYSE: PTR), Petrobras (NYSE: PZE), Royal Dutch Shell (OTC: RYDAF.PK), Total (NYSE: TOT), Chevron (NYSE: CVX), Repsol (OTC: REPYY.PK), ConocoPhillips (NYSE: COP), Eni SpA (NYSE: E), Sasol (NYSE: SSL), Encana (NYSE: ECA), Suncor (NYSE: SU), Imperial Oil (AMEX: IMO), Statoil (NYSE: STO), Cenovus (NYSE: CVE), Transocean (NYSE: RIG), Penn West Petroleum (NYSE: PWE), Continental Resources (NYSE: CLR), Noble (NYSE: NE), Concho (NYSE: CXO), Diamond Offshore (NYSE: DO), Ensco (NYSE: ESV), Whiting Petroleum (NYSE: WLL), Nabors (NYSE: NBR), Pride International (NYSE: PDE), Helmerich & Payne (NYSE: HP), QEP Resources (NYSE: QEP), Enerplus (NYSE: ERF), Rowan (NYSE: RDC), Cobalt (NYSE: CIE), Patterson UTI (Nasdaq: PTEN), SandRidge (NYSE: SD), Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL), National Oilwell Varco (NYSE: NOV), Baker Hughes (NYSE: BHI), Weatherford International (NYSE: WFT), Cameron (NYSE: CAM), FMC Tech (NYSE: FTI), Oil States International (NYSE: OIS), Superior Energy (NYSE: SPN), Carbo Ceramics (NYSE: CRR), Helix Energy (NYSE: HLX), Pioneer (NYSE: PXD), CNOOC (NYSE: CEO), China Petroleum and Chemical (NYSE: SNP), Ecopetrol (NYSE: EC), Canadian Natural Resources (NYSE: CNQ), Apache (NYSE: APA), Anadarko (NYSE: APC), Devon (NYSE: DVN), EOG (NYSE: EOG), Chesapeake (NYSE: CHK).