Oil accord boosts prices and shares
Article Abstract:
Toronto Stock Exchange's oil and gas index has climbed for eight consecutive trading days as a result of improving petroleum prices. The index posted a 21.5% increase during that period. Investors reacted positively to the news that major oil producers have agreed to reduce more than two million barrels a day of crude oil from the market. The proposed cut in producton will take effect on Apr 1, 1999. In reaction, petroleum prices jumped by 18.4% in the past nine trading days, while investors snapped up the shares of energy companies.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Canada seen as top oil growth region: New report highlights energy operations' low exploration risk, long reserve life
Article Abstract:
Canada has emerged as one of the growth regions in an energy market where the majority of oil-producing countries are past their prime or on the verge of declining output. Bolstered by the oil sands and offshore Newfoundland projects, Canadian oil production in 2003 averaged a record 2.5 million barrels a day, up 8.7 per cent from 2002.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Cash-rich Air Canada contemplates options. Methanex rises on share sale. Nova selling its 37.2% Methanex holding
- Abstracts: Ottawa to restrict carb claims. Provident Energy warning highlights ownership risks
- Abstracts: Once again, Magna faces a buyout battle. Magna steers into vehicle designer lane. Mixed news for Magna subsidiary
- Abstracts: Carribbean bank eyed in Portus probe. CIBC under U.S. investigation: New York Attorney-General, SEC look at dealings in probe of mutual fund industry
- Abstracts: Air Canada seeks control of bid process: sources. ACE readies for launch of Air Canada IPO. Battle over Molson could end in a draw