RE:OPEC and IEA Oil Demand Views Are A World ApartOPEC lowered slightly their oil price forecast below what was $100 but the rumor that they are considering uping production is a deliberate false narative. Because they are the glue that holds OPEC together and if they raise production so does all the other OPEC producers. End result is less income for everyone despite higher output.
SAGD is a ways off before production and there is still developmental risks. If oil stays down CJ's revenues will also decline and they may have to dip into their revolving credit to sustain the div which would be looked at favourably. That suggest lower prices compared to where we are today and eventually they will may have to lower the div because at the current 6 cent/share a $5 stock price implies a 14.4% dividend. We need $75 oil or above and then everything falls into place.