Positive Economic Data Boosts Oil
MarketWatch reported that oil prices were up following news of a strengthening economy.
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Tag Archive | "light sweet crude"
PetroChina, Canada Ink Deal
Tuesday, September 1, 2009
Prices of light, sweet crude on the New York Mercantile Exchange are currently trading at half their peak hit in July last year. This has led some producers to postpone oil sands projects as they are capital-intensive and need crude futures above a certain threshold to be viable. US oil demand is also in the doldrums due to the global economic downturn, making it harder for producers to justify investments in new crude oil production. However, PetroChina has gone ahead with its investment in Canadian oil sands.
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Positive Economic Outlook Spurs Crude
Thursday, July 16, 2009
The oil market is bubbling over. Volatile at the best of times, the last year has been extraordinary even by those standards. When the price of crude came close to $150 a barrel, many thought the commodity was overpriced. And yet, some analysts are forecasting $200 a barrel before long. On Thursday, crude prices hovered above $61 a barrel in Asia after a more positive economic outlook from the U.S. central bank buoyed investor confidence. The Fed said industrial companies cut production far less in June than they had in previous months and that it now expects the economy to contract at a slower pace than previously thought.
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- Adira Energy Ltd. – Developing Energy Resources in Israel
- Blackbird Energy Inc. – Exploration and Development of Crude Oil and Natural Gas Assets
- Hyperion Exploration Corp. – Focused on Cardium Light Oil in West Central Alberta
- Manitok Energy Inc. – Oil and Gas in the Western Canadian Sedimentary Basin
- Pennant Energy Inc. – Oil and Gas Exploration at the Bigstone Property, Northern Alberta
- Primary Petroleum – Alberta Basin Bakken
- Simba Energy Inc. – Pursuing Oil and Gas Opportunities in West Africa
- Zone Resources Inc. – Developing the Girard Iron Property
Asides
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Tuesday, December 20, 2011