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Opec says demand for oil will fall: Chesapeake Energy Corporation (CHK), Southwestern Energy Company (SWN), Denbury Resources Inc. (DNR)

The world’s foremost oil cartel has become more pessimistic about demand for the commodity in the years ahead, but remains upbeat on the prospects of a rally in price.

The Organisation of the Petroleum Exporting Countries (Opec) said in an annual update that it expected demand for oil to rise by over 18m barrels a day, to 109.8m barrels per day by 2040. However, this is 1.3m lower than Opec had pencilled in a year ago.

Nonetheless, the cartel considers the recent collapse in oil prices to be a temporary affair. The price of a barrel of Brent crude has fallen from around $115 (£77) in July 2014 to 11-year lows of just over $36 in the last week.

Opec forecasts that oil prices will recover to $70 a barrel after adjusting for inflation by 2020, and will continue moving higher, to some $95 a barrel by 2040.

Chesapeake Energy Corporation (NYSE:CHK), share price increased in the last trading session with a previous 52-week high of $21.36 The stock traded at a volume of 29,041,314 shares at a price gain of 10.55% .The share price is now down -43.30% for the past three months. Latest closing price was -27.47% /below its 50-day moving average and -56.26% below  its 200-day moving average.

While trading, Southwestern Energy Company (NYSE:SWN) jumped 14.12% at the end of recent close. Its previous 52-week high was $29.61trading at a volume of 24,278,245. Shares have fallen -71.29%over the trailing 6 months. The stock is currently trading -5.74% below its SMA 50 and -63.29% below its SMA 200.

Denbury Resources Inc. (NYSE:DNR) closed at $2.47, up 21.8% from previous close and at a distance of -11.85%from 20-day simple moving average. Over the last 12 months, a return on equity of -70.40 percent was realized due to the financial situation and earnings per share reached a value of $-8.96.