NEW YORK, NY -- 07/13/12 -- Oil and gas stocks have continued to be weighed down by falling prices as a less than favorable demand outlook for crude, created by the recent euro crisis, weakens investor optimism in the exploration industry. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has fallen over 10 percent in the last three months. Five Star Equities examines the outlook for companies in the Oil & Gas Industry and provides equity research on Canadian Natural Resource Ltd. (NYSE: CNQ) (TSX: CNQ) and Linn Energy, LLC (NASDAQ: LINE).

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On Thursday, the International Energy Agency stated they expect global oil demand to increase by 1 million barrels a day in 2013. In their report the IEA forecasts global oil demand in 2013 will rise 1.1 percent to average 90.9 million barrels a day. While the rise comes as a welcome sign, demand is still "well below" the levels before the financial crisis.

"While the economic risks encompassed in our weaker GDP and demand profile this month also hint at something of a price ceiling, the latent potential of emerging market demand growth and ongoing risk of nasty supply surprises could keep prices stubbornly high in absolute terms," the IEA report said.

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Canadian Natural is one of the largest independent crude oil and natural gas producers in the world. They have an effective and efficient, diversified combination of assets in North America, the North Sea and Offshore Africa. Total crude oil and NGLs production averaged 395,461 barrels per day in first quarter 2012 representing an increase of 11 percent over first quarter 2011 and a decrease of 11 percent from fourth quarter 2011.

Linn Energy is a top-10 U.S. independent oil and natural gas development company, with approximately 5.1 Tcfe of proved reserves (pro forma for closed and announced 2012 acquisitions) in producing U.S. basins as of Dec. 31, 2011. The company is scheduled to release second quarter 2012 earnings results before market open on July 26, 2012.

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Source: http://www.marketwire.com/press-release/global-oil-demand-to-increase-1-million-barrels-per-day-according-to-iea-nyse-cnq-1679714.htm