oil/gas is cheap atm so while industry may not be using as much fuel as 12 months ago i am sure that the average joe is not as concened about going for that sunday drive or taking the boat out for a run as they were when fuel was getting close to $2 a litre. put your hand up if you are less concerned about the price of fuel atm. eventualy this will lead to the same supply / demand situation as before and up goes the price. not only that but a lot of marginal producers and exploration companys are putting projects on hold untill the poo increases which will add to eventual costs. oil and gas prices will eventualy rebound up, and sooner than a lot think imo. oil and gas is to be the new gold
ESG Price at posting:
67.0¢ Sentiment: LT Buy Disclosure: Held
