Oil CEOs: Oil Going To $60, Companies To Start Spending Again

With crude oil now above $50 per barrel for the first time since July 2015, many executives in the industry forsee prices nearing $60 by the end of 2016.

Jun 9th, 2016

With crude oil now above $50 per barrel for the first time since July 2015, many executives in the industry forsee prices nearing $60 by the end of 2016.

A videographer captures a CNC (computer numerical control) machine at work before a ribbon-cutting ceremony to mark the opening of a Nanotronics manufacturing center at the Brooklyn Navy Yard on April 28 in the Brooklyn borough of New York.

Supply Chain Issues Slow April U.S. Manufacturing Growth

ISM's April manufacturing PMI fell four percentage points from March.

In this March 22 photo, a construction worker is reflected in a wall mirror at Polar Park, Worcester Red Sox's Triple-A baseball stadium, in Worcester, Mass., where preparations are ongoing for the club's opening day in May.

March US Construction Spending Up Less Than Expected

It was far below the strong jump economists expected, though year-to-date spending is still up a healthy clip from a year earlier.

Workers put together electronic gears at a factory in Zhangye in northwestern China's Gansu Province on April 17, 2021. Two surveys show Chinese manufacturing expanded in April but growth appeared to be slowing after a rebound from the coronavirus pandemic.

China Manufacturing Growth May Be Slowing

Two surveys show manufacturing is still expanding but at a slower pace.

People wait in line, resumes in hand, while waiting to apply for jobs during an outdoor hiring event for the Circa resort and casino on April 27 in Las Vegas.

US Economy Grew at Brisk 6.4% Rate in Q1

Growth in the current April-June period is expected to be faster still, potentially reaching a 10% annual pace or more.

Boxes of Kleenex tissues in a pharmacy in New York, April 19, 2021.

Companies Sound Alarm Over Commodity Price Hikes

A wide range of everyday products is about to get more expensive.

U.S. consumer confidence rose sharply for a second straight month in April, hitting the highest level in more than a year.

U.S. Consumer Confidence Back to Pre-Pandemic Levels

The index advanced to its strongest reading since February 2020, right before the COVID-19 pandemic struck in the United States.

In this Oct. 29, 2020 photo, worker Javad Memarzadeh of Needham, MA dusts washers on a display at a Home Depot location in Boston.

March Durable Goods Orders Rebound 0.5%

It was the tenth gain in the past 11 months and followed a 0.9% decline in February.

Chinese Vice Minister of Foreign Affairs Le Yucheng speaks during an interview with the Associated Press at the Ministry of Foreign Affairs in Beijing, Friday, April 16, 2021. Le spoke to AP on a wide range of issues during an interview on Friday including climate change and US-China relations.

Beijing: US 'Too Negative' Toward China

A top diplomat says cooperation could be critically important in combatting COVID-19 and promoting economic recovery.

Ford Motor Co. line workers put together ventilators at the Ford Rawsonville plant, Ypsilanti Township, Mich., May 13, 2020.

US Industrial Production Rises 1.4% as Weather Warms

Output climbed at factories and mines while utilities saw a record plunge.

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Fed Survey: Stimulus, Vaccines Helping Economy Rebound

The beige book report said that manufacturing activity continued to expand, with half of Fed districts reporting robust manufacturing growth.

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February Metalworking Machinery Orders Surge 34% From a Year Earlier

AMT said there was a surprising uptick in February orders from the oil and gas industry despite the weather-related turmoil.

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