last qtr result - O&G counters hit by slump in oil prices. Crude oil is now trading at around USD 55-USD 60 price range. hopefully this will result in improved market sentiment.
Iran will quickly look to sell off approximately 35 million barrels of surplus, stored oil for which it has apparently not managed to find buyers. http://qz.com/378173/iranian-oil-could-send-an-already-saturated-market-back-into-a-price-nosedive/ In the coming weeks, leading countries known as P5+1 will resume negotiations with Iran over its nuclear program. The aim will be to flesh out their April 2 preliminary agreement and sign a final version on or about June 30.
Latest news, world demand and purchase has dropped but the supply is still very strong so it looks like the Petroleum Price will take a dip again - wait 2 weeks...
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Dentist
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Posted by Dentist > 2015-02-24 19:10 | Report Abuse
why drop? today sold ship woh, anyone can explain?