And then, on the supply side we have things like this happening:
[Source: https://www.energyvoice.com/oilandg...l-and-gas-output-at-lowest-level-since-1998/]
While SEA represents just 6% or 7% of total global oil supply, that it could be in decline - along with the OECD output and OPEC+ members currently struggling to meet quotas - bodes well for the oil price over the coming years, given the pace of demand recovery since Covid has exceeded all expectations and still has more legs given the global economy is still hamstrung to a degree by Covid.
It is very difficult to see what could cause the oil story to unravel.
[Every time I read anything about the global oil market, I worry that my portfolio is not long enough oil and derivatives]
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Last
$24.40 |
Change
0.250(1.04%) |
Mkt cap ! $46.32B | |||
| Open | High | Low | Value | Volume |
| $24.36 | $24.56 | $24.23 | $114.1M | 4.674M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15858 | $24.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $24.46 | 30 | 1 |
View Market Depth
| Last trade - 16.13pm 18/07/2025 (20 minute delay) ? |
| WDS (ASX) Chart |