My thought about that situation.Some of the world’s biggest producers, including Saudi Arabia, USA, OPEC members and Russia are still pumping at full speed. All of that means the global glut of oil that caused the big price drop in the first place isn’t likely to ease soon.
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And why CPG ,HSE, IMO, SU, CVE, ECA, COS, CNQ, etc are not at their 52 weeks low... that's simple, it's because the stock market is controlled by ASSSSHOLES (Big guys) and they like to steal our money from our pockets.