I would be exiting now, page-25

Finally someone has raised this key issue. Traditionally WOR get 70%+ from hydrocarbon sector. Firstly gas coz its easiest. World facing an unprecedented glut of gas supply set to last at least 5 yrsso no more LNG plants will be built. Oil is murky and nobody can forecast what will happen with any degree of certainty. But we know that offshore oil needs $100-110 just to break even. Onshore $50-75 depending on location, size etc. But if oil does jump to $70-75 will it cause a boom in capex? Over time new projects will be signed off but it takes time and a couple of yrs can slip by. Current focus is shale as it is cheapish, fast, and technology improved massively over past few yrs getting more oil/gas from each well.

But will world oil consumption continue to grow? Some experts say it will peak in about 5-8 yrs and the slowly decline as EVs etc become more common. Other thing to consider is... will oil at $100-110 be beneficial to world economic growth outside oil producing states? But POO at say $120 -130 will see a boost in energy capex. Not inconceivable with many oil countries a tinderbox. But is it worth buying WOR at $8 in the hope POO will double?

I see more SP weakness as no sign revenue or earnings will stop deteriorating and start improving. Anyone buying WOR a current level?