Watchlist13 Mar 2015 10:35
I have this on my watch list but considering the direction of oil prices it is holding remarkably well. It seems that many still cannot comprehend the effects of the low prices. Many stand like rabbits in the headlights and are getting squashed without remorse. At the present time there is not even a glimmer of recovery. Brent futures have fallen back to about 55$ a barrel and crude spot is 47%. Behind this fall is the geo political force of the US of A. Small producers have to extract more to raise the money to meet their debts and the more they produce the lower goes the price.
At some point the ship will start to turn and companies like Shell will be the first to benefit.. For this reason I am watching..