OPEC will convene an emergency meeting whereby they will do a double flip on what was previously stated about not regulating the market. They can't afford for the price to get too low. Irrespective of their low cost to produce. they have oil pegged higher for many of the debt instruments and for their own economic prosperity.
IMHO oil price may get down to $25-$20$ heck even $15 but it won't be sustainable just like oil at $150 wasn't.
There will also probably some of the higher margin players go to the wall but in 6 -12 months time supply - demand will adjust and be higher.
$12 target, page-75
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Last
$43.21 |
Change
-0.580(1.32%) |
Mkt cap ! $218.0B | |||
| Open | High | Low | Value | Volume |
| $43.31 | $43.59 | $42.80 | $220.7M | 5.099M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 84 | $43.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.22 | 954 | 6 |
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| Last trade - 14.48pm 09/10/2024 (20 minute delay) ? |
| BHP (ASX) Chart |