IMHO. The present oil glut observed is a result of a bottle neck of bringing the production of US shale oil to the market and the lid which was under high pressure due to build up of shale drilling and unexpected productive well that come online to the buyers as well as a drop in consumption and demand. The build up of supply eventually will fizzle out a bit and price will recover to $30 to 40 per barrel.
As for STO sp it will drop a bit further and bottom out for a few weeks before any chance of rising again and all depends on oil above $30.
12 month broker analyst forcast buy-outperform, page-9
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Last
$7.81 |
Change
0.140(1.83%) |
Mkt cap ! $25.36B | |||
| Open | High | Low | Value | Volume |
| $7.80 | $7.82 | $7.76 | $53.77M | 6.831M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 43486 | $7.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.81 | 39967 | 2 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| STO (ASX) Chart |