QualityStocksNewsBreaks – Laredo Oil Inc. (LRDC) Looking to Contribute to Projected Increase in US Oil Production
Laredo Oil (OTC: LRDC) is in a strong position to benefit from the forecasted growth in domestic crude oil production. The U.S. Energy Information Agency (“EIA”), in its February 2022 Short-Term Energy Outlook (“STEO”), projected that crude oil prices will remain high enough to drive U.S. crude oil production to record-high levels in 2023, reaching a forecast 12.6 million barrels per day (“b/d”), up 760,000 b/d from 2021. “Laredo is looking to contribute to increased oil production. The company’s strategy involves a focus on unlocking value when others have overlooked it, emphasizing free cash flow that allows the company to…