WTI's Q3 earnings and revenues decline year over year due to lower oil equivalent production and higher operating expenses.
W&T Offshore, Inc. (NYSE:WTI ) Q3 2024 Earnings Conference Call November 8, 2024 10:00 AM ET Company Participants Al Petrie - Investor Relations Coordinator Tracy Krohn - Chairman & CEO Conference Call Participants John White - ROTH Capital Jeffrey Robertson - Water Tower Research Operator Ladies and gentlemen, thank you for standing by. Welcome to the W&T Offshore Third Quarter 2024 Conference Call.
Oil markets are down by more than 2% ahead of the weekend.
W&T Offshore (WTI) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to earnings of $0.01 per share a year ago.
Traders stay focused on OPEC+ decision to postpone the production hike.
WTI oil moved back towards the $72.00 level.
U.S. West Texas Intermediate (WTI) crude futures fell on Wednesday as presidential election polls were closing in the United States.
Oil traders take some profits off the table and wait for the results of U.S. elections.
OPEC+ decision provided significant support to oil markets today.
Oil traders ignored reports indicating that Iran prepared for a potential strike on Israel.
Recent reports suggest that OPEC+ will not boost production in December.
The EIA report provided additional support to oil markets.