Laredo Oil Inc. (LRDC) Advances Drilling as 2023 Oil Demand Expected to Rise

August 26, 2022

Montana Economy

Comments Off on Laredo Oil Inc. (LRDC) Advances Drilling as 2023 Oil Demand Expected to Rise



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  • OPEC releases ‘bullish’ forecast for oil demand to 2023
  • Healthy global economic growth, improving geopolitical developments and the containment of COVID-19 in China contribute to a positive projection
  • LRDC has leased 37,900 acres of minerals in Montana’s Western Williston Basin

Despite a slowing economy and fears of a recession, the oil and gas industry has rebounded strongly throughout 2021, with oil prices hitting their highest level in six years, according to a recent Deloitte report ( https://ibn.fm/aobNZ); OPEC’s recent bullish forecast for 2023 indicates that the upward trend may continue. This is good news for Laredo Oil (OTC: LRDC), an oil exploration and production company that is about to start drilling in Montana.

“OPEC expects global oil demand to rise in 2023, but at a slower pace than in 2022, the producer group said in its first forecast for next year, citing economic growth still robust and progress in containing COVID-19 in China,” Reuters reported (https://ibn.fm/wqA7A). “In a monthly report released on Tuesday, the…

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NOTICE TO INVESTORS: The latest news and updates regarding LRDC can be found in the company newsroom at https://ibn.fm/LRDC

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