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Oil up despite another rig count increase (SPY +0.6%). Oil prices end 2020 on a positive note, but suffer 20% annual fall as pandemic took toll on demand.
The Market in Perspective
Here are the headlines moving the markets.
Merger Mania Is Transforming Canadas Oil Scene
Canadas oil landscape looks encouraging for 2021 as Whitecap Resources Inc. acquires two oil and gas companies in addition to mergers between other energy companies, with anticipated growth through the coming year as demand for energy steadily increases. In November, Whitecap Resources announced a plan to acquire rival company TORC Oil & Gas through an all-stock transaction of $704.12m equivalent. The deal is expected to go through by 25 February 2021, providing an encouraging outlook for the first quarter of next year. This merger ....

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