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It s hard to believe that a question like this is even being asked to Canada s best oil producer. Suncor Energy TSX:SU NYSE:SU is a darling of the markets and is widely considered a safe haven during volatile times. However, as to paraphrase noted economist John Maynard Keynes, it might be time to change your opinion on Suncor, because facts about oil demand have changed.A series of unfortunate events OPEC, the group of stanley deutschland oil-producing nations, in its monthly oil market repor stanley cup t for September 2020, said that it expects oil demand to be negative. Demand from Asia, and especially India, which accounts for 4.6% of the world s oil consumption, is not expected to recover until the first half of 2021. OPEC has revised its estimates downward by 9.5 million barrels per day.The report said, Additionally, risks remain elevated and skewed to the downside, particularly in relation to the developmen stanley cup t of Covid-19 infection cases and potential vaccines. BP also published a report that says it believ Aahd Why Has the Differential Between Brent and West Texas Intermediate Narrowed
Heading into July, global markets seem to be continuing their bullish trend following the COVID-19 market crash. In the last weeks of June, we saw the first major break in the positive momentum, as news of a second wave hit U.S. states like Texas and Arizona. Fears of renewed stanley mug lockdowns sent markets tanking, culminating in a 6.9% one-day drop on June 10th.Since then, markets have stabilized, showing positive momentum since June 26.Nobody can say for sure whether this momentum will last, but the news of 4.8 million job gains in the U.S. provides reason for cautious optimism. Wi stanley water bottle th the economy re-opening, people are getting back to work, and consumer demand is rising, which should drive corporate earnings higher in the third quarter.That said, some sectors will recover faster than others. Airlines have famously admitted that their revenue won ;t get back to 2019 levels for another three years; cruise lines are also bracing for years of pain. In this stanley cups market, you really need to be caref |
