With the big jump in oil price, I expected stock price of the oil majors (particularly the ones that don’t ship through the strait) to jump proportionately. They are actually flat or slightly down. Thoughts?
2 replies (most recent on top)
Oxy stock wont go up like it did in the past because it is a sh-t company now.
Unless things really go sideways in the Middle East, the price increases in Brent will be temporary and if things go “great” from a U.S. perspective then Iranian oil will start flowing into the open market instead of the black market, resulting in lower crude prices.
With that in mind, I personally have not changed any positions I hold in several international oil companies or other majors like OXY.
Just my personal view - I am sure there are other perspectives as well.