Financial blog

EIA: Continued global oil stock build to keep pressure on oil prices

In its most recent monthly Short-Term Energy Outlook (STEO), the US Energy Information Administration reported it expects global oil inventories to continue to build in 2015, keeping downward pressure on oil prices. EIA’s January STEO, which is the first to include estimates for 2016, forecasts Brent crude oil prices will average $58/bbl in 2015, $11/bbl lower than projected last month, and $75/bbl in 2016.

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ONEOK Increases Quarterly Dividend

he board of directors of ONEOK, Inc. (OKE) today increased ONEOK’s quarterly cash dividend by 1.5 cents per share, or 3 percent, to 60.5 cents per share, effective for the fourth quarter 2014, resulting in an annualized cash dividend of $2.42 per share. The dividend is payable Feb. 13, 2015, to shareholders of record at the close of business Jan. 30, 2015.

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