It looks like they missed a zero off the figure.
I have been hearing from banks, globally over production is around 1M bpd.
I have been out of action for a week, but from what I have been seeing up until then stock piles in the US particularly were growing b the day.
Then there is the oil being stored off market.
Iraq & Russia both increasing production and Libya I understand has the capacity to do so as infrastructure gets fixed.
There are some production cuts, however to date from what I have seen they are minuscule.
I'm sure they will happen, but I think its still a while off mainly due to the hedging around fracking.
What I have been hearing a lot of is restructuring of hedging & using in the money hedges to extend hedging further to try & survive as long as possible.
It looks like they missed a zero off the figure. I have been...
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Last
$7.99 |
Change
-0.010(0.13%) |
Mkt cap ! $25.94B | |||
| Open | High | Low | Value | Volume |
| $7.94 | $7.99 | $7.91 | $57.52M | 7.230M |
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| No. | Vol. | Price($) |
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| 2 | 43873 | $7.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.99 | 1829 | 2 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| STO (ASX) Chart |