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Fly News Breaks for March 30, 2017
CNQ, OXY, SU
Mar 30, 2017 | 08:12 EDT
Wells Fargo says that oil prices are "are ready to rally into the summer," driven by "the combination of OPEC cuts, seasonal increases in refining utilization and field maintenance." The firm expects oil prices to rise "towards $60 per barrel" and it suggests that investors focus on Suncor (SU), Occidental Petroleum (OXY) and Canadian Natural (CNQ. The three companies have oil production exposure of 99%, 77% and 76%, respectively, according to the firm, which keeps Outperform ratings on all three names.
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