Dejour Energy and GMX Resources Benefit From North American Exposure
19 January 2012 - 12:20AM
Marketwired
After a sluggish start to the New Year, oil prices are starting to
increase. Christopher Bellew, a senior broker at Jefferies Bache
Ltd. in London, told Bloomberg that oil could continue to surge, as
"supply worries in Iran and Nigeria combined with the recovering
U.S. economy and demand from developing markets" drive prices. The
Paragon Report examines investing opportunities in the Oil and Gas
Sector and provides equity research on Dejour Energy, Inc. (NYSE
Amex: DEJ) (TSX: DEJ) and GMX Resources, Inc. (NYSE: GMXR). Access
to the full company reports can be found at:
www.paragonreport.com/DEJ
www.paragonreport.com/GMXR
Earlier this week the Organization of Petroleum Exporting
Countries (OPEC) kept its forecast for 2012 oil demand unchanged,
while warning that Europe's could reduce international demand. OPEC
warns that if Europe's turmoil "were to worsen, the effect on the
oil market could be seen not only through a further decline in oil
demand in Europe, but also with spillover effects on oil demand in
the emerging economies."
OPEC maintained its prediction for production outside the
organization in 2012 at 53.1 million barrels a day, Bloomberg
reports. This represents an annual increase of about 700,000
barrels a day, driven by growth in the United States and
Canada.
The Paragon Report provides investors with an excellent first
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consolidating the public information available on them. For more
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The US Energy Information Administration (EIA) says that it
anticipates the price of West Texas Intermediate (WTI) crude oil to
average about $100 per barrel in 2012, $5 per barrel higher than
the average price last year. For 2013, the EIA expects WTI prices
to continue to rise, reaching $106 per barrel in the fourth quarter
of next year.
In the natural gas space, the EIA notes that working inventories
continue to set new record highs and ended December 2011 at an
estimated 3.5 trillion cubic feet (Tcf), about 12 percent above the
same time last year.
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