Oil supply is still very tight and OPEC will always keep it that way. Just that lately its been getting way ahead of its fundamentals such as growing US inventories. Thats just speculators getting carried away, most have been expecting a pullback for some time and it never really got factored into the share prices of producers.
BHPs oil production in some ways acts as a hedge against higher energy costs in mining and minerals processing. Even so their cost of production is around USD $30/barrel so its their highest margin product but possibly still would be at $80 /barrel.
Oil supply is still very tight and OPEC will always keep it that...
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Last
$43.48 |
Change
-0.910(2.05%) |
Mkt cap ! $220.5B | |||
| Open | High | Low | Value | Volume |
| $44.10 | $44.11 | $43.42 | $298.9M | 6.843M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 5791 | $43.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.48 | 13649 | 1 |
View Market Depth
| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |