NetworkNewsBreaks – Laredo Oil Inc. (LRDC) Ideally Poised as Bullish 2023 Forecast Suggests Pricing Uptrend
Laredo Oil (OTC: LRDC), an oil exploration and production company, is primarily focused on acquiring, developing and operating undervalued conventional oil and gas properties while also engaging in the acquisition and development of select mature oil fields that are suitable for its proprietary Enhanced Oil Recovery (“EOR”) methods. “Despite a slowing economy and worries of a recession, the oil and gas industry has rebounded strongly throughout 2021, with oil prices reaching their highest levels in six years, a recent Deloitte report noted; OPEC’s recent bullish 2023 forecast indicates that upward trend may continue. That’s good news for Laredo Oil, which is working to start drilling in Montana,” reads a recent article that contains excerpts from a Reuters write-up. “OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its forecast for next year, citing still robust economic growth and progress in containing COVID-19 in China,” reported Reuters. “In a monthly report on Tuesday, the Organization of Petroleum Exporting Countries (‘OPEC’) said it expects demand to rise by 2.7 million barrels per day (‘bpd’), or 2.7%, in 2023. It left this year’s growth forecast unchanged at 3.36 million bpd.”
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Laredo Oil (OTC: LRDC), an oil exploration and production company, is primarily focused on acquiring, developing and operating undervalued conventional oil and gas properties while also engaging in the acquisition and development of select mature oil fields that are suitable for its proprietary Enhanced Oil Recovery (“EOR”) methods. “Despite a slowing economy and worries of a recession, the oil and gas industry has rebounded strongly throughout 2021, with oil prices reaching their highest levels in six years, a recent Deloitte report noted; OPEC’s recent bullish 2023 forecast indicates that upward trend may continue. That’s good news for Laredo Oil, which is working to start drilling in Montana,” reads a recent article that contains excerpts from a Reuters write-up. “OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its forecast for next year, citing still robust economic growth and progress in containing COVID-19 in China,” reported Reuters. “In a monthly report on Tuesday, the Organization of Petroleum Exporting Countries (‘OPEC’) said it expects demand to rise by 2.7 million barrels per day (‘bpd’), or 2.7%, in 2023. It left this year’s growth forecast unchanged at 3.36 million bpd.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
