Despite OPEC renewing its cut of 1.5m brls/day oil is very close to a 12 month low. Looks a combination of slow demand growth and substantial increase in shale prod. Even oil sands in Canada are producing more than before. WOR's SP is $1.27 (11.5%) higher than a month ago. Many producers are losing money at $50/brl and will capex in hydrocarbon sector be enough to replace wells that have peaked?
Oil could rebound tomorrow esp with M.E. a tinderbox. But right now POO is very weak and I imagine its not helping STO and others. Will SP reach $3.00 by week's close? Who knows but not inconceivable. Better safer stks elsewhere. STO was $5.oo 10 months ago.
Can STO survive, page-705
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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 |