COE has had a double whammy with POO getting hammered and a couple of dry wells....combined with profit taking.
But we need to keep in mind that OPEC was comfortable with POO at US$60...so cut in prod'n threats, geopolitical dramas like the link below should stop the POO slide, which in turn will help COE.
Should form a bottom in the region.... 52-56 I reckon.
http://news.bbc.co.uk/2/hi/africa/4723076.stm
why is it so low?, page-17
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