.png)
Industry experts expect oil prices to spike this week after the Organization of Petroleum Exporting Countries (OPEC) meets with Russia on August 3rd. Some sources say increasing production is on the table, but the chances of a significant boost in supply are slim. OPEC+ will likely maintain the previously agreed upon production quotas, despite U.S. President Joe Biden’s visit to convince Saudi Arabia to open the taps. Meanwhile, the TSX ‘s strong finish last week was due to the rebound in oil prices and strong cash flows of energy companies in Q2 2022. The energy sector gained 2.9%, increasing its year-to-date gain to 45.47%, while 74% of TSX stocks advanced. Canadian Natural Resources had the most percentage gain (+2.38%), but Enbridge (TSX:ENB) (NYSE:ENB) was among the top three heavily traded stocks. Given Enbridge’s stability (+20.07% year-to-date) amid market turbulence, should investors accumulate more shares instead of selling? Management said it’s on track to achieve full year targets following strong operational performance and good financial results in Q2 2022. Diversified secured growth program In the three months ending June 30, 2022, adjusted earnings and distributable cash flow (DCF) increased slightly versus Q2 2021. Cash provided by operating activities was unchanged […]
CamTrader offers a preview only. View original article. www.fool.ca
