"In the near- term the oil price brings benefits such as cost reductions for exploration," Read this statement to mean, "In the near-term the oil price brings benefits such as reductions in profit margins for exploration," Simple supply and demand... On another tack, OPEC have traditionally cut production of oil to artificially cause oil product prices to remain stable, faced with ever increasing production of shale oil and coal-seam gas (at relatively high cost ) they appear to have adopted a siege mentality. Who will relent first ?
MEO Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
