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22.0¢ horizon oil limited

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m0ngy

10,075 Posts.

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15/02/18

08:17

Post #: 31065484
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Originally posted by m0ngy ↑

A price correction doesn’t mean that the market will settle in at lower prices for the long haul. Demand is rising and OPEC will likely maintain high levels of compliance with its production limits.
Moreover, the severe cutbacks in upstream spending that began when oil prices initially collapsed in 2014 have yet to really be felt in terms of supply. Large-scale projects that received FIDs before the market downturn were carried through to completion, allowing new supply to come onto the market even as the industry made sharp spending cutbacks. But that pipeline of projects is now on the verge of drying up, which raises questions about the availability of supply next year and beyond.
“From next year onwards, we literally halve the number of projects and decline rates are picking up,” Amrita Sen, chief oil analyst at Energy Aspects, said on Bloomberg TV. “I do think there is a potential for spike … We’ve seen a huge amount of shale production growth, 1.5 million barrels per day, year-on-year in Q417, and still we are drawing stocks everywhere. That just shows you that we aren’t adding enough supplies elsewhere and demand growth is very high.”
Sen says the market won’t go back to the days of $100-plus, but “it could be a spike up to $90-plus in 2019. Yeah, absolutely we can.”

https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Collapse-Now-Spike-Later.html

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Oil sharply higher

https://www.marketwatch.com/story/oil-rebounds-to-end-sharply-higher-after-inventory-data-2018-02-14

HZN Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 22.0¢		Change 0.005(2.33%)		Mkt cap ! $357.5M

Open	High	Low	Value	Volume
21.5¢	22.0¢	21.3¢	$718.4K	3.312M

Buyers (Bids)

No.	Vol.	Price($)
6	575841	21.5¢

Sellers (Offers)

Price($)	Vol.	No.
22.0¢	1978727	20

View Market Depth

No.	Vol.	Price($)
4	157805	0.215
18	525933	0.210
6	317415	0.205
20	561519	0.200
23	714384	0.195

Price($)	Vol.	No.
0.220	1356602	17
0.225	998543	8
0.230	2655052	4
0.240	85000	1
0.245	26585	1

Last trade - 16.10pm 11/10/2024 (20 minute delay)

HZN (ASX) Chart

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