Post by
stonkssss on Nov 28, 2020 3:04pm
Interesting Read
https://finance.yahoo.com/news/pandemic-broken-shale-left-oil-120016554.html
In summary, fracking and oil operations are recovering, but nowhere near where they were before the pandemic. To trigger growth in the US shale industry, oil prices need to reach at least $50+/barrel. Optimistic COVID news could pump it up to this level, but regardless the US has lost its leverage over OPEC and tensions among OPEC and its allies prove that this may be unlikely. For Questor, they have definelty seen a dramatic decrease in sales, as rigs shut down and companies go bankrupt. Depressed oil prices have slowed the production of shale in the US and probably will for the next one-two years (according to forcasters from the IHS Markit). Post-COVID I think we will see a dramatic increase in the price of oil as bussiness and personal travel will increase (people are edging to esxape their homes). Also, Biden's promises to rejoin the Paris Climate agreement will be good for Questor. At this time, I think we have to see what will happen this week at the summit this week and other COVID vaccine news.
Comment by
TruthBeTold7 on Nov 28, 2020 3:11pm
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