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Ovintiv's Doug Suttles to retire after 8 years of dealmaking, end of Encana

Ovintiv's Doug Suttles to retire after 8 years of dealmaking, end of Encana
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Oil climbs to six-week high with demand optimism spurring rally


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Oil climbs above US$65 as car-fuelled demand sparks recovery


Oil climbs above US$65 as car-fuelled demand sparks recovery
Alex Longley and Jack Wittels, Bloomberg News
OilCover
, Bloomberg
Oil surpassed US$65 a barrel, the highest since mid-March, as signs of strengthening demand from the U.S. to China stoked optimism that key markets are turning a corner in their recovery from the pandemic.
U.S. benchmark crude futures rose 1.8 per cent on Thursday for a third straight daily gain. Major cities in the U.S. are coming out of lockdown, with New York City aiming to fully reopen July 1 and Chicago broadly easing restrictions across industries. In Europe, the U.K.’s road-fuel sales are nearing last year’s summer levels. Consumption may also get a boost when China breaks for an extended holiday on Saturday, with mobility expected to climb to a record. ....

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WTI Settles Above $65 Threshold


Oil surpassed $65 a barrel amid signs of strengthening demand from the USA and China.
(Bloomberg) Oil surpassed $65 a barrel, the highest since mid-March, as signs of strengthening demand from the U.S. to China stoked optimism that key markets are turning a corner in their recovery from the pandemic.
U.S. benchmark crude futures rose 1.8% on Thursday for a third straight daily gain. Major cities in the U.S. are coming out of lockdown, with New York City aiming to fully reopen July 1 and Chicago broadly easing restrictions across industries. In Europe, the U.K.’s road-fuel sales are nearing last year’s summer levels. Consumption may also get a boost when China breaks for an extended holiday on Saturday, with mobility expected to climb to a record. ....

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Shale Giants Proving OPEC Right


Saudi Arabia s bet that the golden age of U.S. shale is over appears to be a safe one - for now, at least.
(Bloomberg) Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one for now, at least.
A round-up of data on shale drillers shows they’re sticking to their pledge to cut costs, return money to shareholders and reduce debt. If they stay the course, it would validate the OPEC+ alliance’s high-stakes wager that it can curb output and drive crude prices higher without unleashing an onslaught of supply from U.S. rivals. ....

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