If bearish sentiment continues for a bit, expect to see a potential break below support levels around $67.35. Further declines in shipping rates due to reduced Chinese demand can be expected to continue, highlighted by expectations for a 50 per cent drop in freight rates in the next four months.
Read the full article: "Buyers To Buy If Prices Weaken"
Monday, September 14, 2009
Investment in new oil fields has not been robust; when the current overcapacity is sucked up, the gap between supply and consumption will narrow again, forcing prices up. On that thinking, $75 per barrel can look like a good bet. Juniors lead the way!
Read the full article: "Canada’s Oilsands To Play Critical Role"
Tuesday, September 8, 2009
Primary Petroleum reports on the completion of the additional five sq. mi. 3D seismic program on its Teton prospect in Western Montana. The new seismic confirms four new structures and delineates the extent of the Sunburst pool discovered in the Highview 16-5 well. Primary has now identified an additional eleven drilling locations from its proprietary 3D [...]
Read the full article: "Primary Petroleum Provides Operational..."
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.
Read the full article: "PetroChina, Canada Ink Deal"
The Crude Oil Investing Glossary: This glossary covers investing in junior resource companies. For the experienced investor or the newbie, you should find everything you need here. If not, let us know and we’ll research and add what you’re looking for.
OilInvestingNews.com maintains a focus on Oil exploration and investment opportunities. For broader Natural Resource Investing, see ResourceInvestingNews.com.
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Friday, September 25, 2009