Good point. Look at FLT.
But back to oil price. I still think the there will be a lot of shutdowns occurring in Canada,US shale, Gulf of Mexico, North Sea and other high cost producing oil fields. Factor in the big Capex cuts in virtually all the oil companies worldwide. That should be good news for the oil market. There are plenty of oil traders who are buying excess oil because they can. Oil industry is a big part of world GDP. And oil industry players are no mugs. They are going to fix the problem themselves because they exist to make money.
Ann: Business Update, page-191
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$1.54 |
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