IMF Cuts Saudi Arabia’s Growth Outlook Due To OPEC+ Oil Cuts

Saudi Arabia’s economy is expected to grow by 1.9 percent this year, the International Monetary Fund (IMF) said on Monday, revising down its forecast of 2.2-percent growth from just three months ago, due to expected lower Saudi oil production as the Kingdom has pledged to overcomply with the OPEC+ oil production cuts. In its January update of the ...

Source: Oilprice.com

Phase 1 Trade Deal Won’t Spark An Oil Export Boom

What happens to world markets when China buys an additional $50 billion-plus in U.S. energy products over the next two years? For some analysts, as spectacular as this may sound to fossil fuel bulls, at best, it’s unrealistic. After months of negotiations, the United States and China have finally agreed to and signed a phase-one trade agreement between the ...

Source: Oilprice.com

Enerplus Announces 2020 Guidance and Outlook through 2022

CALGARY – Enerplus Corporation (“Enerplus” or the “Company”) (TSX & NYSE: ERF) today announced its 2020 exploration and development capital budget of $520 to $570 million and outlook through 2022. “We remain focused on creating value for shareholders through a combination of sustainable, high return production per share growth, free cash flow generation and low financial [Read more]

Source: BOE Report