- OPEC releases “bullish” forecast for oil demand moving into 2023
- Healthy global economic growth, improvements in geopolitical developments and containment of COVID-19 in China contribute to positive projection
- LRDC has leased 37,900 mineral acres in the Western Williston Basin of Montana
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 (https://ibn.fm/aobNZ); OPEC’s recent bullish 2023 forecast indicates that upward trend may continue. That’s good news for Laredo Oil (OTC: LRDC), an oil exploration and production company that is working to start drilling in Montana.
“OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its first forecast for next year, citing still robust economic growth and progress in containing COVID-19 in China,” reported Reuters (https://ibn.fm/wqA7A). “In a monthly report on Tuesday, the…
NOTE TO INVESTORS: The latest news and updates relating to LRDC are available in the company’s newsroom at https://ibn.fm/LRDC
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