Thought I'd share my view about the future of O&G industry. This industry has become victims of their own success by producing more fuel than the world is demanding. The possibility that the world drastically reduces use of these products to address climate change, and the industry got a deeply uncertain outlook over the coming years. If one factor in the acute drop in oil and gas demand emanating from the spread of the coronavirus, combined with ongoing trade war between the major producers - is looking like a double whammy for the industry.Since the downturn in 2014, the O&G stocks haven't recovered (and neither have oil prices) and here we are into another market crash with current price at $30.
A simple message to all those investors who still believe that this is an excellent buying opportunity - think again!
Outlook for the O&G industry.
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Last
$1.49 |
Change
0.015(1.02%) |
Mkt cap ! $3.399B | |||
| Open | High | Low | Value | Volume |
| $1.48 | $1.51 | $1.47 | $9.879M | 6.634M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 119980 | $1.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.50 | 67389 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BPT (ASX) Chart |