Saturn Oil + Gas - acquisition successfully completed

In recent weeks, concerns about the development of the global economy have put oil prices under pressure for the first time since the start of the Ukraine - Russia war. High inflation, coupled with the first stronger interest rate hikes by some central banks, is likely to dampen economic development and thus also reduce demand for crude oil. Oil prices are likely to have completed the first cycle of increases, with Brent prices recently reaching USD 135. Now a leveling off is taking place, which will have to find its way through the entire mix of strikes (Norway) and production interruptions (Kazakhstan). The fact remains that oil will have to remain an indispensable commodity for quite a while, because there are too few alternatives. Therefore, even in an incipient recession and continuing uncertain geopolitical conditions, a high oil price is to be expected. In Saskatchewan, Canada, the oil producer Saturn Oil & Gas is growing out of its infancy into a new dimension.

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