I don't think PC was serious about the OSH bid nor is he about STO at this point. I think he'll wait until total US crude production drops to about 7,000 BBL/D/1K (7,000,000 barrels per day) from the current 9324 BBL/D/1K like everybody else. U.S. production is still very high and has hardly been dented by low prices.
See: http://www.tradingeconomics.com/united-states/crude-oil-production (look at 10 yr)
Compare to the very bearish signal: http://www.tradingeconomics.com/commodity/crude-oil (1 month view)
Time to TO sto, page-5
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Last
$29.21 |
Change
-0.310(1.05%) |
Mkt cap ! $55.46B | |||
| Open | High | Low | Value | Volume |
| $29.14 | $29.32 | $29.05 | $121.9M | 4.181M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5709 | $29.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.21 | 14331 | 2 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| WDS (ASX) Chart |