People talk about the Russian war as the cause for supply issues. Russia contributes just 13% of global oil supply. Oil prices on the contract front are elevated not because of demand and supply. Look at the futures contracts. It is the main speculation that has created the bubble. Oil is at stage 3 decline, just one step away from kamikaze stage 4. I'm still not sure why Buffett is buying OXY at such a height. I'd like to think that he knows more than all that the price action is showing right now because if he is wrong, it ain't going to look pretty on Berkshire's price too.  

The Era of Expensive Oil Is Here to Stay

Even as prices drop to a three-month low, the world is still struggling to produce all the oil it needs—and the impact on global economics and politics will be profound.Southbound traffic is thick on
The Era of Expensive Oil Is Here to Stay

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

  • Top
  • Latest
  • LMSunshine
    ·2022-07-13
    Thx for sharing 🤗
    Reply
    Report
  • ATH
    ·2022-07-13
    ok
    Reply
    Report
  • munmunmia
    ·2022-07-13
    G
    Reply
    Report
  • wowk
    ·2022-07-13
    wow
    Reply
    Report
  • Hayleyxn
    ·2022-07-13
    ll
    Reply
    Report
  • LIUW1204
    ·2022-07-13
    Reply
    Report
  • Deskok
    ·2022-07-13
    ok
    Reply
    Report
  • kcm
    ·2022-07-13
    [微笑]
    Reply
    Report
  • Melodyyyyy
    ·2022-07-13
    Thanks.
    Reply
    Report
  • soosoo
    ·2022-07-13
    noted
    Reply
    Report
  • longLong
    ·2022-07-13
    [财迷]
    Reply
    Report
  • Shot
    ·2022-07-13
    yes
    Reply
    Report
  • 113071z
    ·2022-07-13
    a
    Reply
    Report
  • Low Jun Quan
    ·2022-07-13
    a
    Reply
    Report
  • Slee49
    ·2022-07-13
    OK
    Reply
    Report
    Fold Replies
    • Slee49
      OK
      2022-07-13
      Reply
      Report
  • wowk
    ·2022-07-13
    wow
    Reply
    Report
  • vimmu
    ·2022-07-13
    great
    Reply
    Report
  • LittleChive
    ·2022-07-13
    [Strong]
    Reply
    Report
  • bernardtayet
    ·2022-07-13
    Agreed
    Reply
    Report