Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil and natural gas in the provinces of Alberta, British Columbia and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. Its Midale operating area of over 730 million barrels of original oil in place (OOIP) and its low decline in production of 3,200 barrels of oil equivalent per day (boe/d) (net) is supported by both waterflood and CO2 enhanced oil recovery. Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large OOIP pools. Its North area includes Grande Prairie, Clearwater and other properties.

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Cardinal Energy Ltd (Alberta) > OPEC and IEA Oil Demand Views Are A World Apart

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Post by Quintessential1on Sep 27, 2024 10:25am

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Post# 36243953

OPEC and IEA Oil Demand Views Are A World Apart

It is not "a world apart" it is less than 1% but whatever.

However

OPEC May Have Overestimated 2024 Demand Growth

For this year’s oil demand growth, it looks like OPEC may have been overly optimistic when it pinned its hopes on China to drive more than 2-million-bpd growth when it published its first assessment for 2024 in July 2023.

A year later, in August 2024, OPEC revised down – for the first time – its 2024 demand growth estimate on the back of underwhelming data so far this year and expectations of softening Chinese demand growth.

Now growth is growth and down is down so where is oil supposed to be trading?
My guess is higher but the market is the market and it doesn't care what I think.

Now what I know is that if you are getting less than what you need to make a profit for your oil you need to lower costs. SAGD will do that. So if oil keeps trading low SAGD wins and if oil goes up SAGD wins more.

CJ is paying me to wait and see which it is. Win or win more.

GLTA
https://oilprice.com/Energy/Crude-Oil/OPEC-and-IEA-Oil-Demand-Views-Are-A-World-Apart.html