OPEC, in particularly Saudi is trying to do collateral damage and kill shale revolution. Shale with higher production cost will definitely be killed off by the low oil price, hence stabilizing the market price. However, if the oil price is a lot higher than the shaler’s capex, they will start drilling again. Sooner or later, Saudi will realize that shaler is like roaches, which won’t be completely killed, causing the oil glut will only hurt themselves eventually.
Interesting article below:
http://waltonian.com/2015/12/opec-fails-to-agree-production-ceiling/
http://sacredheartspectrum.com/2015/12/oil-cartel-opec-postpones-decision-on-production-quota/
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Last
$7.86 |
Change
-0.080(1.01%) |
Mkt cap ! $25.55B | |||
| Open | High | Low | Value | Volume |
| $7.90 | $7.91 | $7.85 | $66.51M | 8.444M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 45903 | $7.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.87 | 46422 | 18 |
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| Last trade - 12.22pm 07/08/2025 (20 minute delay) ? |
| STO (ASX) Chart |