Perhaps today's enthusiasm has some merit - last night on 7:00pm ABC news Alan Kohler showed a chart where current supply:demand for Oil is in equilibrium. If this is the case, IMO -it doesn't appear to be fundamentals that are dictating the price of Oil. It must be coming close to the time short sellers will cover off - what do others think?
With high cost producers being compromised fairly rapidly, maybe the rebound in in Oil prices are closer than I'd previously thought? I expect the demand for LNG to get quite a kick along as the multiple trains come on line and access to new reserves to be keenly sought after.
Are we at a point where we should be getting our shopping list together & scoop up the many solid yet badly bruised energy stocks, including BUL?
Note: my position shows hold, keen to become more positive! What time line do others expect for Oil rebound 1mth, 3mth, 6 mth, 12 mths?
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