RE:RE:RE:RE:insider buy 8/25/20Peter, I am not betting on LNG, although it won’t hurt. I hope oil will break above $50 as soon as all Covid restrictions are removed. It will take vaccines plus treatment drugs which may be approved and available in less than a year. Until then, all international and domestic air travel won’t be fully restored and that is about 3 million b/d of global jet fuel currently below the normal pre-covid demand. In the U.S. refiners capacity utilization is gradually recovering from lows in April and May but at 82% it’s still below summer average of about 95%.
I am afraid, WTI has stuck in the current range for a while. This may explain the weakness or sideways movement in share prices. A co with cash or available credit may invest in liquids-rich assets infrastructure and drilling but will just accumulate DUCs until oil prices recover. Others will just try to survive helped by stronger natural gas prices.