poster asks: 'at what price does the underlying commodity become uneconomical to produce?
I believe we are approaching that time. It may churn for a while.'
I agree. POO and LNG along with most etals has fallen so low it is totally uneconomical to contemplate investing the huge capex required to drill oil wells esp offshore, then build platforms etc. Hence, 250Billion worth of projects have been canned. They won't be revisited till crude is above USD75. That's whi i remain uber bearish re WOR. $7 is not implausible by end of this month. Its a serious situation and commodities could stay in doldrums for a couple of yrs.
Slump in oil price hits WOR, page-51
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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 |
