We have the most powerful cartel in oil industry. We can be assured that oil will not stay this low for much longer.
Also Oil reserve is estimated to use up in less than 40 years(see quote below). The development of alternate energy source has been with mix success. Not many nowadays talk about electric car and airplanes are still powered by oil.
"According to the Institute of Mechanical Engineers, there are 1.3 trillion barrels of proven oilreserve left in the world's major fields, which at present rates of consumption should last 40 years.Oct 22, 2014
STO is oversold today, imo, page-220
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$7.95 |
Change
-0.040(0.50%) |
Mkt cap ! $25.81B | |||
| Open | High | Low | Value | Volume |
| $8.01 | $8.01 | $7.94 | $34.13M | 4.286M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 131404 | $7.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.96 | 48130 | 4 |
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| STO (ASX) Chart |