This Week’s Market Buzz

• A Reuters poll of analysts in late December showed a broad expectation that Brent Crude will average “a smidge above $50/bbl this year,” PVM Oil Associates said. U.S. benchmark West Texas Intermediate crude futures broke above $50/bbl this week for the first time since February, boosted by a surprise announcement by Saudi Arabia of a 1 million barrel-per-day production cut beginning in February and extending through March.

• Victory Nickel Inc. announced the resignation of Peter R. Jones as a director of the company, effective immediately. The board of directors thanked Jones for his service to Victory Nickel and wished him well in the future.

• According to DataBridge Market Research, the global frac sand market is expected to rise to an estimated value of $8931.41 million by 2026, registering a healthy CAGR of 15.20% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising oil and gas exploration activities, the growing adoption of hydraulic fracturing techniques and cost-effectiveness over other proppants.

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