Shale Prospects and Tar Sands Usher in a New Era of Oil Exploration
The Paragon Report Provides Equity Research on SandRidge Energy & Suncor Energy
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 10/07/11 -- This week's spike in oil prices has been largely attributed to refining cutbacks, and not improving demand. With economies sputtering in the US, EU and China, oil demand is expected to fall. The sudden downturn could squeeze margins for several North American oil exploration companies, many of which boosted production earlier this year. The Paragon Report examines investing opportunities in the Oil & Gas Sector and provides equity research on SandRidge Energy, Inc. (NYSE: SD) and Suncor Energy, Inc. (NYSE: SU) (TSX: SU). Access to the full company reports can be found at:
Oil prices turned sharply higher this week after the EIA reported a surprise drop in US oil inventories. The figures don't necessarily signal higher crude demand, however, as the drop in inventory was partly due to refineries cutting back on run. The EIA says oil stocks fell 4.7 million barrels last week; a 700,000 increase was expected. Gasoline and distillate supplies also fell.
Global oil demand remains diminished, at best. The Paris-based International Energy agency reduced its forecast for global demand this year by about 60,000 barrels a day to an average of 89.5 million barrels a day. On Wednesday, Goldman Sachs said that financial stress in Europe will slow energy demand growth.
The Paragon Report provide investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Oil & Gas Sector register with us free at and get exclusive access to our numerous stock reports and industry newsletters
OPEC sharply revised down its forecast for world oil demand for this year and expected consumption would remain weak in 2012, citing waning economic growth in key industrialized nations and a weak US driving season.
While oil demand may be on the downturn, North American oil production is skyrocketing. Oil output from shale prospects in unconventional sources from North Dakota to Texas could reach 1.5 million to 2 million barrels-per-day (bpd) in the coming five to seven years, twice as much as the 700,000 bpd currently produced in these places, Hess Corp executives told an IHS Herold energy conference.
Meanwhile in Canada, figures compiled by the Canadian Association of Petroleum Producers (CAPP) show that oil sands production is expected to double by 2020, to 3 million barrels a day, while conventional production slips slightly. That will give an estimated total production of 4.2 million barrels by the end of the decade.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 07.10.2011 - 12:16 Uhr
Sprache: Deutsch
News-ID 73840
Anzahl Zeichen: 0
contact information:
Town:
NEW YORK, NY
Kategorie:
Insurance
Diese Pressemitteilung wurde bisher 189 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Shale Prospects and Tar Sands Usher in a New Era of Oil Exploration"
steht unter der journalistisch-redaktionellen Verantwortung von
Paragon Financial Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
