Today’s energy market action:
- Brent and WTI finally make a move higher on Thursday.
- Cdn oil prices rise in tandem with WTI, as discounts unchanged.
- Henry Hub and AECO both slip 1%.
- Gasoline prices eke out fifth gain in past six trading days.
- Energy stocks outperform on both sides of the border.
Today’s supply/demand update:
- OPEC hints at steeper cuts in 2020 …
… as supply continues to outstrip demand growth. - World’s largest traders see little hope for oil prices next year.
Today’s notable energy news:
- Alberta gov’t sets up anti-propaganda centre in Calgary.
- Tourmaline Oil creates new royalty and infrastructure company.
- Hungary’s MOL eyes Chevron‘s stake in massive Azeri oil field …
… while Exxon‘s stake still seeks buyer. - Brazil raises another US$2B for 12 offshore “fringe” blocks …
… and plans two much bigger auctions in November. - OPEC insists none of its members are “climate deniers”.