Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Balance Evolving
Analyst Jason Frew highlighted the firm's downward revision of its long-term Brent crude grade of oil price forecast to $65 from $70 due to the industry's ability to lower supply costs against a conservative demand outlook. Thus, the analyst noted that rebalance is evolving, as producers are driving productivity through efficiency gains, innovation and technology.
Great Expectations From Aspen
Credit Suisse said its outlook for Imperial Oil incorporated funding of the Aspen project, which adds material new production beyond 2020, reinforcing the company's leadership within the oil sands industry.
The firm expects Sycrude utilization to improve and steady production from the company's other core upstream assets such as Cold Lake and Kearl. The firm also noted that its capital outlook includes Aspen, the only visible new greenfield project of scale in the oil sands beyond industry's current committed growth. Regulatory approval for Aspen should be coming forth in 2017, construction done by the 2018–2022 timeframe and production ramp up by 2021, the firm said.
As such, Credit Suisse upgraded its rating on the shares of the company to Outperform from Neutral and raised its price target to C$50 from C$48.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.