Well it's an interesting strategy to say the least, however I don't think they have much choice.
Supply has grown steadily & that's not down to the Saudis.
If they cut production, they would have to continue to cut as other suppliers fill the gap they open up. So instead they will bankrupt their competition.
There will be a resulting debt crisis and that will make it very difficult to finance oil projects in the future as the Saudis will be able to slam the market at will.
Well it's an interesting strategy to say the least, however I...
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Last
$7.47 |
Change
-0.040(0.53%) |
Mkt cap ! $24.21B | |||
| Open | High | Low | Value | Volume |
| $7.52 | $7.54 | $7.43 | $10.41M | 1.395M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 24032 | $7.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.48 | 42975 | 26 |
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| Last trade - 11.46am 05/06/2024 (20 minute delay) ? |
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Last
$7.52 |
Change
-0.040 ( 0.02 %) |
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| Open | High | Low | Volume | ||
| $7.52 | $7.52 | $7.43 | 590302 | ||
| Last updated 12.06pm 05/06/2024 ? | |||||
| STO (ASX) Chart |