Skyrocketing oil demand is sending oil prices to record levels…
U.S. crude demand jumped in December to its highest reading in over two years. The U.S. Energy Information Administration said the country supplied roughly 21 million barrels per day.
On a year-over-year basis, fuel demand was up 10% in December. This was due to ongoing uncertainty and an undersupply of crude and natural gas.
During the month, oil production fell by 206,000 bpd to 11.57 million. That’s 9% lower than February 2020’s 12.83 million.
Meanwhile, stockpiles at the Cushing storage hub in Oklahoma declined to their lowest levels since 2018 as well. Reuters reported that this is the delivery point for the New York Mercantile Exchange’s (NYMEX) oil futures contract.
These factors have since pushed some of the top oil and gas-producing states to bolster their output, with Texas and Pennsylvania also hitting record production.
And this rise in domestic and global demand has benefited companies across North America, including Freehold Royalties (FRU).
Freehold is a Canadian-based company engaged in the development and production of oil and natural gas.
In its most recent quarter, it reported earnings per share of $0.17… as well as revenue of $58.4 million, marking a 186% rise in sales versus the same period last year.
Freehold said its crude production hit 14,000 bpd during the quarter – greater than the forecast of 13,700 bpd.
The company’s CEO David Spyker noted that these results were driven by acquisitions, high demand, and rising commodity prices.
During the quarter, Freehold closed its deal to purchase U.S. royalty assets in the Texas Midland basin. And broader demand tailwinds pushed the firm to raise its quarterly dividend by 33%.
This momentum will likely continue as well. Given that Freehold is a royalty-based oil company, it means it receives a percentage of revenue from oil producers in a given area.
And with the global supply and demand imbalance, we’ll likely see an increase in production in the U.S. – and around the world – to counteract current issues. As this output rises, Freehold will be one of the biggest benefactors.
Warning to Anyone Who Owns a Car
We've reached a tipping point.
A secretive startup has cracked the battery code… and is leading the way in a technological breakthrough that experts say could power every single EV on the planet.
If you invest in this new technology, your chance of making money from the EV revolution skyrockets.
In fact, this battery is going to make EVs so affordable, mass adoption is no longer an IF… it's a WHEN…
Making gas-powered cars obsolete.
Whitney Tilson, the hedge fund manager who's nicknamed “The Prophet,” says: “I assure you with 100% certainty this is happening, and for one simple reason: economics.“
Think about it…
You might not want an EV for yourself.
But if you're a millennial looking to buy a new car and you have the option of a safer, more powerful vehicle that is cheaper to buy… costs 90% less to run… lasts up to six times longer… and is good for the environment…
Why would you choose the alternative?
Some car manufacturers are scrambling to keep up…
“Established carmakers around the world are ripping up their business models in the hope of adapting to a new world in which electricity replaces gasoline and diesel,” says a CNN contributor.
As they jockey for position, guessing which car company will become the next king of EVs is a gamble for anyone wanting to profit from the situation.
But this battery company could be the key to unleashing millions of dollars in new wealth.
Today… as in right now… you can buy shares of the company pioneering this new technology…
A Wall Street Veteran predicts it will trigger a 1,500% gain in EV sales over the next four years.
In time, it could easily become a household name like Microsoft, Intel or Oracle.
The company operates out of this Silicon Valley laboratory, which The Washington Post calls a “billionaire factory”… because for early investors, the potential to make money is off the charts.
To check out what The Wall Street Journal calls “the hot battery startup that could zap Tesla,” click here.