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Not holding my breath that OOO won't dump down again like it did after the April dividend record date, but it hasn't so far today.

Gives me some hope of a longer term SP recovery to at least similar prepandemic prices.

I have speculated that at some stage the inelasticity of bringing back supply will be dominated by demand leading to a slow surge in oil prices. More research needed.
Theres pro' and cons for the argument, but I expect the oil industry will have at least a few more hurrahs over the years before succumbing to the inevitable EV market.
I envisage that at some stage the POO (price of oil) will have to get rather high to push markets to transition over to EV's in combination with regulatory pressures.

10 year chart showing there's still plenty of overhead space to recover to near prepandemic levels

[ATTACH=full]125338[/ATTACH]

3 month chart.
The blip from dividend scalpers at the end of April disappears into the noise of general price volatility. (Seen around 3 May)

[ATTACH=full]125339[/ATTACH]

<blockquote data-quote="frugal.rock" data-source="post: 1123509" data-attributes="member: 78470">Not holding my breath that OOO won&#039;t dump down again like it did after the April dividend record date, but it hasn&#039;t so far today.Gives me some hope of a longer term SP recovery to at least similar prepandemic prices.I have speculated that at some stage the inelasticity of bringing back supply will be dominated by demand leading to a slow surge in oil prices.&nbsp; More research needed.Theres pro&#039; and cons for the argument, but I expect the oil industry will have at least a few more hurrahs over the years before succumbing to the inevitable EV market.I envisage that at some stage the POO (price of oil) will have to get rather high to push markets to transition over to EV&#039;s in combination with regulatory pressures.10 year chart showing there&#039;s still plenty of overhead space to recover to near prepandemic levels[ATTACH=full]125338[/ATTACH]3 month chart.The blip from dividend scalpers at the end of April disappears into the noise of general price volatility. (Seen around 3 May)[ATTACH=full]125339[/ATTACH]</blockquote>

[QUOTE="frugal.rock, post: 1123509, member: 78470"] Not holding my breath that OOO won't dump down again like it did after the April dividend record date, but it hasn't so far today. Gives me some hope of a longer term SP recovery to at least similar prepandemic prices. I have speculated that at some stage the inelasticity of bringing back supply will be dominated by demand leading to a slow surge in oil prices. More research needed. Theres pro' and cons for the argument, but I expect the oil industry will have at least a few more hurrahs over the years before succumbing to the inevitable EV market. I envisage that at some stage the POO (price of oil) will have to get rather high to push markets to transition over to EV's in combination with regulatory pressures. 10 year chart showing there's still plenty of overhead space to recover to near prepandemic levels [ATTACH type="full" alt="Screenshot_20210601-121625.png"]125338[/ATTACH] 3 month chart. The blip from dividend scalpers at the end of April disappears into the noise of general price volatility. (Seen around 3 May) [ATTACH type="full" alt="Screenshot_20210601-121742.png"]125339[/ATTACH] [/QUOTE]

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