Global Oil Demand Forecasted to Increase by 900,000 Barrels a Day in 2012
Five Star Equities Provides Stock Research on Enerplus and Royale Energy
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/19/12 -- Oil and Gas exploration stocks have been on an impressive run as crude prices have rallied sharply on the increased likelihood of stimulus from central banks around the globe. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has surged more than 22 percent in the last three months, handily outperforming the Dow Jones Industrial Average over the same period. Five Star Equities examines the outlook for companies in the Oil & Gas Industry and provides equity research on Enerplus Corp. (NYSE: ERF)(TSX: ERF) and Royale Energy, Inc. (NASDAQ: ROYL).
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The Organization of the Petroleum Exporting Countries (OPEC) in their monthly report forecasted oil demand to rise in 2012 and the next. In their monthly report OPEC forecasted global oil demand to increase by 900,000 barrels a day in 2012 and another 800,000 in 2013. During August OPEC produced an average of 254,000 barrels more a day than in July for a total of 31.41 million barrels.
"It's been an impressive performance. And when you put this month's number up against OPEC's own prediction that it is going to need to produce about 30.5 million b/d in the fourth quarter, which is always the heaviest demand period of the year, it should ease fears of tight crude supplies," said John Kingston, Platts global director of news.
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Enerplus' oil portfolio includes high growth opportunities in the Bakken/Three Forks resource play in North Dakota, as well as stable, low decline crude oil production from a variety of crude oil waterflood properties across Western Canada. The company recently announced a cash dividend in the amount of (CAD) $0.09 per share, payable on September 20, 2012 to all shareholders of record at the close of business on September 10, 2012.
Royale Energy is focused on development, acquisition, exploration, and production of natural gas and oil in California, Texas and the Rocky Mountains. The company in April reported that plans to request permission to drill 3 to 6 wells to assess the potential in the Shublik and Kingak shale acerage in Alaska.
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Datum: 19.09.2012 - 12:20 Uhr
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