CVN 0.00% 19.0¢ carnarvon energy limited

Oil Demand and supply is balanced

  1. 17,696 Posts.
    lightbulb Created with Sketch. 2546
    Finally some good news on the oil front.

    It looks like a balance has been found with oil at around $60 dollars for WTI crude (well, oil does have elastic demand after all).  Refer to chart below.

    And with the withdrawn "Rigs" effect, yet to kick in and the current Middle East problems.

    Price should recover a bit more towards the end of the year .

    For our stars to align, we need good news on PS 1 and/or ROC.



    1. Oil
    The supply glut caused by US shale production and OPEC’s refusal to cut back to compensate, which led to a fall last year from $US107 to $US44 in six months, has disappeared. The market is back in balance and the price has been holding at around $US60 a barrel for two months, having surged in March and April, but the risk from here is that it rises some more.
    This graph from RBC Capital Markets shows what has happened: a massive surge in demand, and a small drop in supply.

    Source: RBC
    Last edited by Cosmoterios: 27/06/15
 
watchlist Created with Sketch. Add CVN (ASX) to my watchlist
(20min delay)
Last
19.0¢
Change
0.000(0.00%)
Mkt cap ! $339.6M
Open High Low Value Volume
18.5¢ 19.3¢ 18.5¢ $453.7K 2.388M

Buyers (Bids)

No. Vol. Price($)
1 208679 19.0¢
 

Sellers (Offers)

Price($) Vol. No.
19.5¢ 1051094 14
View Market Depth
Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
Last
19.3¢
  Change
0.000 ( 1.53 %)
Open High Low Volume
19.0¢ 19.3¢ 19.0¢ 1022419
Last updated 15.59pm 28/03/2024 ?
CVN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.