With Iran, Iraq, Libya, Nigeria and others stating they need to increase oil production i suspected OPEC would struggle at its meeting ending Saturday to reach consensus. Mr Mkt agrees and overnight oil (WTI) fell 4%.... in a single session! Brent dropped bit over 3%.
Many oil fields are running at a loss and they simply don't have capital to develop new discoveries/expand current production. Hence CAPEX in hydrocarbons will remain very wek as indicated by lack of news from WOR and others in the sector.
http://www.marketwatch.com/
With Iran, Iraq, Libya, Nigeria and others stating they need to...
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Last
$13.87 |
Change
0.120(0.87%) |
Mkt cap ! $7.649B | |||
| Open | High | Low | Value | Volume |
| $13.75 | $13.87 | $13.62 | $16.71M | 1.213M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8268 | $13.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.87 | 4066 | 2 |
View Market Depth
| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| WOR (ASX) Chart |
