Forget Opec: This Is An Even Bigger Catalyst For Oil Stocks

Last week, the biggest news out of the oil patch was that OPEC agreed to hike its output by 1 million barrels per day (BPD) starting next month. That announcement drove oil prices higher because OPEC didn't boost production as much as some thought it might. However, while that news grabbed headlines, an under-the-radar report about issues at Suncor Energy's (NYSE: SU) Syncrude oil sands facility in Canada could have an even bigger impact on oil prices in the U.S.

Topics:  suncor energy's nyse   su syncrude   u.s    on wednesday   syncrude canada   july   suncor   images   opec   bpd   suncor energy   suncor    canada   bigger   oil   news   production   reported   month   prices   facility   
BING NEWS:
  • OPEC+ Meeting In Focus: Will Oil Production Cuts Continue Through March 2025?
    Oil prices are currently stable, but OPEC+ is likely to extend oil output cuts into Q1 2025 due to weaker global demand. Click to read.
    12/3/2024 - 4:56 am | View Link
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