If the Russia Ukraine military conflict ends soon, this would put a cap on the price of oil of 80 USD, barring an unexpected flaring of geopolitical tensions again, in Wolfteam Ltd.'s view.
The Israel Hamas conflict and the Houthi attacks on oil tankers, as reported in many media sources are partly a proxy to the Russia Ukraine encounter. Once there is a truce between Russia and Ukrain,e this would ease possible potential oil and gas supply disruptions both in Russia and the Middle East, including Saudi Arabia, which together account for around 35 % + of the world's global oil production.
If there is peace, at least for several years, globally this would make both the oil majors like Exxon Mobil, Chevron, Total, BP, Shell and mid sized producers like Occidental Petroleum, Devon Energy and Chesapeake Energy, etc a stable revenue investment base.
No comments:
Post a Comment