Oil & Gas Companies Daily Update Sept 10 2019

Today’s energy market action:

  • Oil and gas prices continue to move higher.
  • Brent and WTI both rise about 2%.
  • Cdn light and heavy benchmarks gain closer to 3%.
  • Heavy oil discount moves back above US$12/bbl.
  • Henry Hub surges 4%, while gasoline moves up 1%.
  • Energy stocks outperform on both side of the border.

Today’s supply/demand update:

  • Chinese oil imports unexpectedly rise in July.
  • Desjardins bets on lower oil prices in 2020.
  • ADNOC says US$11T req’d to meet demand thru 2040.

Today’s other notable energy news:

  • Suncor Energy announces $1.4B plan to install two cogens.
  • Baytex Energy says 2019 output will hit high end of guidance …
    … while capital spending forecasted on low end.
  • Energy Transfer mulls sale of US$6B Rover Pipeline.
  • Saudi Arabia announces change of energy minister …
    … but don’t expect changes to OPEC policy.