No oil is only falling on Market sentiment, global growth is strong and with sanctions on Iran and new sanctions on Russia demand will outstrip supply. Market is assuming that sanctions will not impact Iran however look at Venuzuela sanctions had a huge impact over the long term. Likewise US oil production was quietly downgraded by 200k bbls per day last qtr by EIA. I do not think we will see any more US growth for at least 6 months until pipeline capacity is increased. This is in line with Baker Hugh’s gloomy forecast.
Will Santos ever recover?, page-394
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$6.72 |
Change
0.030(0.45%) |
Mkt cap ! $23.02B | |||
| Open | High | Low | Value | Volume |
| $6.74 | $6.77 | $6.72 | $43.42M | 6.449M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 104139 | $6.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.73 | 10465 | 2 |
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