Although Oil is low, many analysts are predicting a strong recovery in the 2nd half of this year.
Oil falling below production costs for literally 100% of producers for an indefinite time can not happen. If this happens the world will implode. The only way this could happen, would be if Oil and Gas became completely obsolete and were replaced with other energy sources entirely resulting in zero demand for the commodity.
Eventually this might happen, however I can safely say that this will not happen in the next 50 plus years, so O&G will be okay for now. I think that O&G will eventually be replaced in the future due to scarcity and alternative solutions will need to be found out of necessity.
STO will be considered cheap and the ones with foresight will be really happy that they bought, those who sold will kick themselves and those who did nothing will wish they jumped in.
DYOR.
Although Oil is low, many analysts are predicting a strong...
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Last
$7.66 |
Change
-0.010(0.13%) |
Mkt cap ! $24.87B | |||
| Open | High | Low | Value | Volume |
| $7.72 | $7.73 | $7.66 | $51.80M | 6.770M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 125654 | $7.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.67 | 1506 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| STO (ASX) Chart |