For nearly two years, the global oil market has been flooded with excess supply. Yet, putting a strong bid under crude this year, punters have chosen to ignore this fact.
With more wells being drilled and produced, it seems like the supply story is set to get worse in the short term. Crude oil demand is still weakening.
Italy’s stock market has been a rollercoaster ride this year. Italian banks have lost more than 50% of their market capitalisation.
While these oil companies may look cheap compared to their highs, it doesn’t mean they are the right sort of oiler’s to buy right now.
Oil is definitely a cost plastics manufacturers want to keep their eye on. Amcor Ltd (ASX:AMC) is one such plastics giant in the business of packaging.
Crude Oil was up 87% from the low of US$26.05 per barrel on 2 February. Indeed, it got the pump. So, is it time for the dump?
It’s a world of hydrogen, lithium, aluminium, wind, solar, wave, even some oil still. The power revolution isn’t about one dominant source of energy.
This could crash the crude oil price, with more supply flooding an already oversaturated oil market.
Green energies, battery power and storage — these are the future of energy. These are energies that war can’t control, and that takes power away from governments.
The Papua New Guinea (PNG) oil company, Oil Search [ASX:OSH], has turned from prey to predator.