I forgot to mention that Goldman attributed the POO appreciation to "the successful policy of Russian and Saudi". Th success may have many aspects. One of them is that not only you know "OPEC & Russia have their hand on the taps and can flood the market at anytime", all oil producers/bankers know that too. In other words, the shale drillers are checked because they are high-cost produced and could be flashed out at anytime. STO's CEO can have a big smile on his face with poo at $60+, but BHP's onshore US operation has been loss making from its start decade ago, including for the whole year of 2017.
Last week, the oil rig counts dropped by 4 in the US, including 1 in GoM, and dropped by 15 in Canada. Needless to say, the poo was up 3% on Friday. Seasonally, we may have two more dark weeks for oil inventory. After that, the sky will be bright again and $8 will be my sell target for sto.
I forgot to mention that Goldman attributed the POO appreciation...
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Last
$7.02 |
Change
0.180(2.63%) |
Mkt cap ! $23.02B | |||
| Open | High | Low | Value | Volume |
| $6.94 | $7.03 | $6.91 | $81.59M | 11.66M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 125302 | $7.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.02 | 766 | 1 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| STO (ASX) Chart |