RE: Covid 194 Apr 2020 10:53
Agreed, let's keep the share discussion forum to investing and not on any political agenda. People are assuming that OPEC and the major oil players can actually agree on a deal to be reached next week. I am certainly hopeful but my question is, what happens if it cannot? Also, there is a current over-supply of oil but a lack of demand. Especially in the coming few months, due to coronavirus, there will be no significant need for too much oil. I cannot see the oil price returning to 60 USD a barrel any time soon. If anything, the only thing that will happen as another global recession occurs in the coming months are that the stock markets will further decline. Oil prices will hover around this level with some daily spikes and drops. In my investing experience and personal opinion, I can actually see this great company dropping back to around 1100p at some stage. When it reaches the 1100s, it is time for long term investors not to panic but instead to buy even more to average down. I believe in this company and agree with other posters that even if oil demand subsides, Shell will be diversified enough to focus on alternative forms of energy.