REX INTERNATIONAL . Worth a buy now ?

pine
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1 year 12 hours ago #26007 by pine

Replied by pine on topic REX INTERNATIONAL . Worth a buy now ?

Oil Prices Could Be Set For Another Sharp RiseBy David Messler - Sep 28, 2022

Governmental preferences shifting to alternative energy and discouraging production of “fossil fuels”

Capital restraint by producers globally

As a result, the world has under-invested in upstream oil supply by hundreds of billions.

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Joes
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11 months 3 weeks ago - 11 months 3 weeks ago #26008 by Joes

Replied by Joes on topic REX INTERNATIONAL . Worth a buy now ?

Energy is the biggest investing theme now and for many years to come.

That's why S&P 500′s oil and gas sector has risen by nearly 30% this year.

Warren Buffett's Berkshire has accumulated 20% of Occidental Petroleum. It is worth about US$11 billion.

Being a well-known long-term investor, he is obviously seeing it as a gem as oil supply will lag demand in the years ahead.

oilprice.com/Latest-Energy-News/World-Ne...etroleum-Shares.html

Last edit: 11 months 3 weeks ago by Joes.

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pine
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5 months 3 weeks ago #26031 by pine

Replied by pine on topic REX INTERNATIONAL . Worth a buy now ?

Oil prices jumped with Brent up c.6% currently to USD85 per barrel, following OPEC+ surprise output cut of 1 million barrel per day.

Higher oil prices are positive for producers of course, like Rex.

May be negative on transport stocks like SIA and ComfortDelGro

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pine
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5 months 2 weeks ago #26032 by pine

Replied by pine on topic REX INTERNATIONAL . Worth a buy now ?

1 >> China's crude oil imports in March surged 22.5% from a year earlier to the highest for a single month since June 2020, data showed on Thursday, as refiners stepped up runs in anticipation of an economic recovery. Crude imports in March totalled 52.3 million tonnes, or 12.3 million barrels per day (bpd), according to data from the General Administration of Customs.

2 >> The global oil market could see tightness in the second half of 2023, which would push oil prices higher, Fatih Birol, executive director of the International Energy Agency, said on Wednesday. Oil prices have surged above $80 since the beginning of the month, after the Organization of the Petroleum Exporting Countries and allies including Russia, collectively known as OPEC+, surprised markets with an announcement of voluntary production cuts of 1.66 million barrels per day (bpd) from May until the end of 2023.

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Joom
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4 months 5 days ago #26036 by Joom

Replied by Joom on topic REX INTERNATIONAL . Worth a buy now ?

WARNING TO SHORT-SELLERS = HIGHER PRICE OF OIL COMING.

Saudi warns speculators of more pain as OPEC+ meeting looms
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Tuesday he would inflict more pain on short sellers and told them to watch out just days before a planned OPEC+ meeting to decide on future oil policy.

"Speculators, like in any market they are there to stay, I keep advising them that they will be ouching, they did ouch in April, I don't have to show my cards I'm not a poker player... but I would just tell them watch out," he told the Qatar Economic Forum organised by Bloomberg.

Saudi Arabia, the world's largest oil exporter, and other OPEC+ producers announced surprise voluntary cuts in April that lifted prices after a slump driven by concerns that a banking crisis could impact demand.

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