Despite OPEC renewing its cut of 1.5m brls/day oil is very close to a 12 month low. Looks a combination of slow demand growth and substantial increase in shale prod. Even oil sands in Canada are producing more than before. WOR's SP is $1.27 (11.5%) higher than a month ago. Many producers are losing money at $50/brl and will capex in hydrocarbon sector meet WOR's and mkts expectations? Oil could rebound tomorrow esp with M.E. a tinderbox. Still holding shorts (see other thread) at $12.60av.
Oil hits 12 month low despite OPEC
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Last
$14.95 |
Change
0.185(1.25%) |
Mkt cap ! $7.891B | |||
| Open | High | Low | Value | Volume |
| $14.88 | $14.97 | $14.83 | $2.803M | 188.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 3875 | $14.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.95 | 4346 | 26 |
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| Last trade - 12.29pm 13/09/2024 (20 minute delay) ? |
| WOR (ASX) Chart |