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re: Bloomberg: Big Oil Goes Looking for a Career Change
Posted on 9/16/20 at 2:30 pm to Colonel Flagg
Posted on 9/16/20 at 2:30 pm to Colonel Flagg
Soon as Covid ends and people are driving again, demand will go up and so will prices. There aren’t 5% electric or LNG vehicles on the road all of a sudden. People have not driven very much since March. There was a supply glut at that time and an additional market flood by Russia. Oil isn’t going anywhere anytime soon.
1
Posted on 9/16/20 at 7:21 pm to michael corleone
quote:
Soon as Covid ends and people are driving again, demand will go up and so will prices. There aren’t 5% electric or LNG vehicles on the road all of a sudden. People have not driven very much since March. There was a supply glut at that time and an additional market flood by Russia. Oil isn’t going anywhere anytime soon.
There is a decent amount of business related travel that is simply never coming back.
As for those buying XOM at $40, better hope that dividend doesn’t get cut.
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