Ann: Construction begins at Roma North gas development, page-9

Like your post t2000

SXY is  a GROWTH  MACHINE.

The oil market is fickle. Subject to USA opinions which are far out. Some say they are independent. What a lot of dribble. They are not self sufficient. Oil demand is going up, albeit at a decreasing rate.

The world needs more big oil fields. And it seems to me that everyone hates oil. The world needs to start drilling urgently. This so called glut has captured the Press and we have seen a big price drop.

Rest assured there will be a reversal.
Too little investment in the last 4 years
Apathy re electric cars
Apathy re wind mills
Apathy re solar.
And algae is spent.

The current surplus does not take into account.....
The reduction in offshore oil tanker storage. According to the experts this is getting low.
Saudi going flat out to "appease Trump"
The almost nil purchases from  China from USA leading to storage increases...read Tariffs.
China growth way ahead of analysts predictions

This is a Trumped up BS story .
The World needs oil investment.
SXY is very well placed in a part of the world that is stable.