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.

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Athabasca Oil Corp

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Post by smallcaptdron Sep 17, 2022 1:40pm

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Post# 34969065

Oil Markets Are Consumed By Economic Fears

With stocks firmly in the red, house prices trending downwards, US yields hitting multi-year highs, and the threat of a global recession still looming, fears of an economic downturn certainly seem well founded. Amidst widespread expectation that next week’s Fed meeting will see another aggressive interest rate hike, sentiment in the oil market is decidedly bearish, with oil prices on track to record a third consecutive weekly decline. While there are plenty of bullish catalysts in the not-so-distant future for oil markets, none of them are immediate enough to counter
current economic fears.
I think that everyone is in agreement that the global economies are heading for a serious decline and contraction and have just started to react to the latest Interest rate hikes so further rate hikes will all but guarantee that this contraction will start to pick up speed taking with it Oil demand hurting Oil prices and on top of this we have been seeing Oil production being added from various ways all a recipe for $75 Oil even with some bright spots being bullish I feel that the only way that Oil has any chance of heading back over $100 won't be coming from the economy it will have to be through manipulation, Russia shutting down Oil production and sales or OPEC making huge cuts to production are the 2 hail Marys and if this doesn't happen then get used to $80+ Oil for now. Traders are the ones who control Oil prices and traders can drive Oil higher or lower on speculation, facts, and rumors and that's why the Oil market is so volatile making it extremely hard to trade Oil stocks. This coming week the price of Oil could go in either direction with the FED raising the Interest rate but the markets will be skittish trying to decide if the FED does a .50%, .75%, or a full 1% hike but right now a .75% is all but guaranteed. Buy on rumors sell on facts and once we get through this week everyone will hopefully then find direction.

Oil Markets Are Consumed By Economic Fears | OilPrice.com