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Athabasca Oil Corp T.ATH

Alternate Symbol(s):  ATHOF

Energy Oil & Gas E&P
Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.


TSX:ATH - Post by User

Athabasca Oil Corp
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Post by smallcaptdron Feb 15, 2023 10:26pm
211 Views
Post# 35288941

Whats driving Oil is Bullish

Whats driving Oil is BullishThe market outlook has turned positive so I don't see any reasons for it to be red tomorrow even with US Building Permits & PPI MoM at 8:30am I haven't yet seen Oil react on Building Permits and with the US rallying Oil up over $79 there's a great likelihood that they will support higher prices if overseas continues this bullishness move 

WTI crude futures rose above $79 per barrel on Thursday, snapping a two-day decline as investors shrugged off official data showing US crude inventories jumped by 16.3 million barrels last week, far exceeding expectations of a 1.2 million barrel build. An upbeat demand outlook from the International Energy Agency also supported prices, predicting that global oil demand will rise by 2 million barrels per day in 2023. The IEA also said that China will account for almost half of this year’s oil demand growth after the country exited its strict zero-Covid policy. OPEC+ revised its oil demand forecast higher as well by 100,000 barrels per day due to stronger demand from China, while stating recently that it plans to stick with production quotas fixed late last year for the rest of 2023. Meanwhile, oil prices came under pressure earlier this week after the US government announced plans to release an additional 26 million barrels of oil from strategic reserves.



Crude oil - 2023 Data - 1983-2022 Historical - 2024 Forecast - Price - Quote - Chart (tradingeconomics.com)
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