SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Jul 27, 2012) - Oil and gas stocks have struggled in recent months as a less than favorable demand outlook for crude weakens investor optimism in the exploration industry. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has fallen over 10 percent in the last three months. The recent economic slowdowns in Europe and China have continued to raise concerns regarding future oil demand. The Paragon Report examines investing opportunities in the Oil & Gas Industry and provides equity research on Chevron Corporation (NYSE: CVX) and Suncor Energy Inc. (NYSE: SU) (TSX: SU).
Access to the full company reports can be found at:
The U.S. Energy Information Administration earlier this month slashed their global oil demand growth forecast by 130,000 barrels per day to 670,000. The EIA also lowered its oil demand growth estimate for 2013 by 360,000 bpd to 730,000 bpd in its monthly forecast.
"Global oil consumption is now expected to increase by 700,000 barrels a day next year, about 400,000 barrels a day less growth than previously forecast," Sieminski said in a statement accompanying the report. "Most of the growth in oil demand next year will occur in China, the Middle East, and Brazil."
Paragon Report releases regular market updates on the Oil & Gas Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.
Chevron recently reported that its subsidiaries have completed a transaction to acquire interests in two blocks in the Kurdistan Region of Iraq. The company's Board of Directors has declared a quarterly dividend of ninety cents $0.90 per share, payable September 10, 2012 to shareholders of record at the close of business on August 17, 2012.
Suncor Energy recently stated that they were willing to delay the schedules of some of their oil sands expansion projects. "We are heavily involved in these profit improvement reviews at the moment and the indications are that some of these projects are moving backwards, not forward," said CEO Steve Williams on a conference call Wednesday.
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: