Five Canadian energy companies set to succeed despite low oil prices [Toronto Globe and Mail (Ontario, Canada)]
Imperial Oil Limited (IMO)
NASDAQ:AMEX Investor Relations:
imperialoil.ca/en-ca/company/investors
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Source: Toronto Globe and Mail
Five Canadian energy companies set to succeed despite low oil prices Canadian energy companies with strong cash flow during a low oil-price environment. Global demand for oil has decreased by 25 million barrels a day (b/d), owing largely to the economic slowdown caused by COVID-19, yet production has remained relatively unchanged. Crude oil prices have declined sharply, with Brent down 52 per cent and Western Canadian Select (WCS) down 72 per cent year-to-date. While the S&P/TSX Composite Index is down 17 per cent year-to-date, the S&P/TSX Energy Index is down more than 35 per cent, with some Canadian energy producers seeing their equity value fall by as much as 80 per cent. Even though the Organization of Petroleum Exporting Countries and its allies including Russia (OPEC+) recently agreed to cut output by 9.7 million b/d, with possibly additional cuts by the United States, Canada and Brazil, the supply-demand imbalance will remain for some time. Today we screen for Canadian energy c
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- Imperial Oil Limited (TSE:IMO) Analysts Just Slashed This Year's Revenue Estimates By 20% [Yahoo! Finance]Yahoo! Finance
- Imperial reports voting results for election of directorsBusiness Wire
- As TMX enables record oil output, First Nations hope for new chapter [BNN Bloomberg (Canada)]BNN Bloomberg
IMO
Earnings
- 4/26/24 - Beat
IMO
Sec Filings
- 5/1/24 - Form 8-K
- 5/1/24 - Form 8-K
- 4/30/24 - Form 8-K
- IMO's page on the SEC website