As I have said on many occasions, the Saudis are out to bankrupt their competition.
We are yet to see the capitulation of producers as its a supply war of attrition.
Cost cutting, capital raising and hedging has all meant that its taking longer than hoped for the Saudis to achieve their goal.
I fully expect to see an energy sector debt related crisis to unfold and this will impact global growth and test the global economic system.
With oil at $30 I suspect this isn't far away from unfolding.
WTI should out perform Brent as well imo.
STO will be losing money handover fist at the current poo.
So it really depends on how low & how long oil stays at low levels in regards STO's survival.
They should have enough liquidity to get through, but at huge cost to shareholders.
Much of which that could have been avoided by selling their crude producing assets and raising capital a year ago as I suggested to management.
GLTAH
As I have said on many occasions, the Saudis are out to bankrupt...
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Last
$7.55 |
Change
0.070(0.94%) |
Mkt cap ! $24.52B | |||
| Open | High | Low | Value | Volume |
| $7.52 | $7.55 | $7.45 | $49.37M | 6.568M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 109504 | $7.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.55 | 11885 | 3 |
View Market Depth
| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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Last
$7.54 |
Change
0.070 ( 1.08 %) |
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| Open | High | Low | Volume | ||
| $7.52 | $7.55 | $7.45 | 1464580 | ||
| Last updated 15.59pm 07/05/2024 ? | |||||
| STO (ASX) Chart |