Oil prices finished their best month in a year on Friday and are headed back toward $50 a barrel, bringing some relief to beleaguered energy producers even though they reported some of their worst quarterly results in years.
Benchmark U.S. oil futures rose 20% in April, despite a slight slip Friday, and have surged 75% since bottoming out in February at a 13-year low. The rally has been more powerful than most analysts and investors anticipated.
Declining U.S. production, corporate cost-cutting and production outages around the world have raised hopes that the crude-oil glut might be easing.
I don't like being a hater and just want to understand and rationalise what has happened and where LGO is heading; which I suspect is what the majority of this bb 's posters and readers are trying to do.
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