TSX:OBE - Post Discussion
Post by
thetruth54 on Feb 22, 2024 12:01pm
Macro looking better for oil. It will only get better
As we approach the strong season for oil demand with the rate cuts on the horizon great things are moving in place that will help lift OBE. Increased production plus higher oil prices now that is a great combination for OBE investors. Moreover, it appears for the first time since I can remember Loukas has actually done something to lift the stock and improve shareholder value. I also can't remember when OBE released an earnings report and the market reacted favorably. Hopefully this continues beyond today. Here is some of the latest important macro news:
US Manufacturing Activity Expands at Fastest Pace Since 2022
Vince Golle
Thu, Feb 22, 2024, 11:07 AM
(Bloomberg) -- US manufacturing activity expanded at the fastest pace since September 2022, powered by stronger orders growth and suggesting producers are breaking out of an extended slump.
The S&P Global flash February purchasing managers index advanced to 51.5 from 50.7. Readings greater than 50 indicate expansion and, while only modest, the gauge has shown growth in consecutive months for the first time in over a year
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