From Global News The fallout from the mayor of Whistler’s request for an Alberta energy giant to pay for climate change expenses could now affect the resort municipality’s bottom line. CIBC has confirmed it has removed the oil and gas portion from the agenda of its annual Whistler Institutional Investor Conference, which is set to kick off in January. January
Citing a wide array of data sources as well as 80’s pop songs, CIBC Managing Director and Chief Economist Avery Shenfeld made a strong case for a new normal of lower energy prices, slower economic growth, and lower interest rates emerging after the Great Recession. Shenfeld was a featured speaker at the 2016 EnerCom conference in Denver. Here is an abbreviated version of his
Canada’s big three banks all beat quarterly estimates Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce all topped profit estimates despite their exposure to the embattled oil and gas sector. Gross impaired loans to the oil and gas sector increased at all three lenders, but each saw strong results in other sectors. CIBC CIBC reported a
CALGARY, ALBERTA–(Marketwired – April 11, 2016) Enbridge Income Fund Holdings Inc. (the “Company”) (TSX:ENF) today announced that it has entered into an agreement with a syndicate of underwriters led by Scotiabank, BMO Capital Markets and CIBC Capital Markets for the purchase and distribution to the public of 17,699,000 common shares (“Common Shares”) at a price of $28.25 per Common Share
Canadian banks have $80 billion of exposure to oil including untapped loans Canada’s top banks have a combined exposure of C$107 billion (USD$80 billion) to the oil and gas industry, inclusive of untapped credit lines, reports Bloomberg. Canadian Imperial Bank of Commerce said in its earnings call that total exposure to oil and gas firms rose to C$18.7 billion in
Size and timing of production rollover will depend on OPEC output The Canadian Imperial Bank of Commerce (CIBC) released its Oil View today, making some changes to its price forecasts from its previous release in August. CIBC’s new call on WTI for 2015/2016 is $51.75/$61.25, down from $54.00/$62.50 in its previous report. CIBC also lowered its price forecast for European
Expectations of North American LNG exports lowered to 5.5-6.5 Bcf/d by 2022 The future for natural gas liquefaction (LNG) is not as bright as many had hoped as demand in China begins to slow and an excess of LNG prepares to come on the market, says CIBC’s Head of Commodities Strategy Katherine Spector. A “double whammy of surplus global LNG
CIBC’s Katherine Spector: “In the very short-term, while there may be a few more dollars of downside in the crude price, increasingly lopsided futures market positioning suggests that an end is probably near.” The world will need more oil from OPEC, but not as much as they are producing The most recent oil market outlook released by Canadian Imperial Bank
The CIBC maintains a bearish outlook on gas prices as weather remains warmer than last year The Canadian Imperial Bank of Commerce (CIBC) released its outlook on gas today, continuing to hold its bearish stance on the commodity’s future. The major factor determining the future price and inventories of gas, according to CIBC, is the weather. With the incredibly cold
Oil Price Volatility May Become Commonplace Already, another day has dawned bringing more volatility in oil prices. WTI is trading at about $55.25 following an early low of $53.60; and Brent, which had traded as low as $58.55 this morning, is trading at $59.50. What do the experts think? Late yesterday, CIBC World Markets’ Macro Strategy Research team sent out its research report entitled
CIBC’s Katherine Spector Lays Out a Few Scenarios Head of Commodities Strategy for CIBC World Markets, Katherine Spector, hosted a conference call for CIBC clients on Wednesday morning in advance of both the U.S. Thanksgiving Day holiday and tomorrow’s much anticipated OPEC meeting and then spoke to Oil&Gas360® after the call in an exclusive interview about oil prices and OPEC.
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