We are coming into the northern hemisphere summer "Driving Season". US oil production started declining Feb 2016. Imports increasing. With the number of rigs out of action I expect US oil production decline to accelerate fairly rapidly as we move into 2017 - overseas there are less rigs out of action but still somewhat reduced number - those economies are almost totally dependant on oil - at some point even the lowest cost producers will hurt..
There has been a massive global reduction in capital investment in oil production and related infrastructure and at some point this has to change to avoid a huge production defecit.
The longer and lower oil price goes the more spectacular the recovery will be. IMO
Thats not to say the US economy is not a basket case, but at the end of the day they are still a first world country. The US dollar may tank over the next few years but that will only have a short term effect on oil price in currencies other than US$. People won't produce it if it makes no financial sense to produce - oil makes sense to produce. Oil will increasingly be sold in currencies other than USD.
- Forums
- ASX - By Stock
- WDS
- Rating cut
Rating cut, page-7
-
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add WDS (ASX) to my watchlist
|
|||||
Last
$26.80 |
Change
-0.345(1.27%) |
Mkt cap ! $50.73B |
Open | High | Low | Value | Volume |
$26.90 | $26.98 | $26.70 | $60.37M | 2.249M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
15 | 11964 | $26.79 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$26.80 | 2019 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 10448 | 26.790 |
12 | 8217 | 26.780 |
9 | 4397 | 26.770 |
10 | 4620 | 26.760 |
23 | 11099 | 26.750 |
Price($) | Vol. | No. |
---|---|---|
26.800 | 1742 | 18 |
26.810 | 7047 | 27 |
26.820 | 6049 | 19 |
26.830 | 6601 | 24 |
26.840 | 10027 | 24 |
Last trade - 14.32pm 30/07/2024 (20 minute delay) ? |
Featured News
WDS (ASX) Chart |
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Director
Nick Poll
Executive Director
SPONSORED BY The Market Online