Mississauga, ON -- (SBWIRE) -- 05/05/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Marquee Energy Announces Sale of Non-Core Shallow Gas Asset."
Companies mentioned in this article include Marquee Energy Ltd. (TSX-Venture:MQL).
In the ongoing earnings season, the Energy sector has been by far the worst performer. This does not come as a surprise. Oil prices have plunged since June 2014 amid oversupply. However, the outlook for the Energy sector has improved lately.
The improved outlook is mainly due to the fact that oil prices have recovered from their multi-year low levels hit earlier in the year. Indeed, prices are now well above $40 per barrel. In today's trading, oil prices rose further amid supply outages in Canada due to a massive fire around Fort McMurray, Alberta which is in the heart of Canada's oil sands. There are supply side issues in other parts of the world as well.
Meanwhile, in the U.S., crude oil production has dropped sharply from its peak as lower prices have made extracting oil from shale fields unviable. In this scenario, analysts expect the oil market to start to balance in the second half of this year. In fact, if supply side issues persist, the market could even turn into a deficit. This augurs well for oil & gas companies, especially the ones that are focused on bringing down costs, cutting capital spending and selling non-core assets.
The full version of this article can be found at:
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