A report issued on
Tuesday by the International Energy Agency showed that global oil demand will
grow by 1.3 million barrels a day in 2014, jumping up to 92.5 million barrels
daily. As a Citi Futures analyst noted, the projected increase is demand is
slated to dramatically impact oil’s value as crude oil inventories decreased by
41.2 million barrels over the last 7 weeks.
In lieu of this
development, First Titan notes that it is continuing to search for new resource
property development opportunities and to develop its portfolio of lucrative,
current asset holdings in Alabama, Louisiana, Oklahoma, and Texas. With oil
holdings in these four states, the company is positioned to benefit from this
strong surge in demand, as well as future demand.
First Titan has
acquired multiple working interests with established oil exploration companies
to deliver new oil and gas resources to the markets. It is targeting new,
promising projects to add to its oil and gas portfolio, for further build-up of
its portfolio’s diversity and profitability.
For more
information, visit www.firsttitanenergy.com
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