I have posted a link below to an interesting Aljazeera discussion about the possibility of a deal between Russia and OPEC to end the oil supply glut. Although the experts do not agree entirely about the likelihood of such a deal they do agree that there is a geopolitical need for the price of oil to rise. Russia is expected to greatly reduce oil production within 2 years.
My conclusion after watching this 30 minute program is that the price of oil will slowly rise in the second half of this year. For KAR holders patience and steady perseverance are required for a bit longer.
http://www.aljazeera.com/programmes...udis-ready-cooperate-oil-160203170724229.html
Possible OPEC- Russian deal
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Last
$1.83 |
Change
0.050(2.81%) |
Mkt cap ! $1.466B | |||
| Open | High | Low | Value | Volume |
| $1.80 | $1.84 | $1.79 | $8.392M | 4.606M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6282 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 79500 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| KAR (ASX) Chart |