Earnings tend to follow the cycle in oil prices, and this is the peak of the cycle. Going forward, there is a lot of investment from the industry in capacity.
More Quotes from Peter Hitchens:
Shell is getting near crisis point. Although the Asia crisis has bottomed out, the rest of the world has dropped off.Peter Hitchens
Hunting has reported a good set of final results ... We believe that the group will be one of the prime beneficiaries of the increase in upstream capital expenditure by the integrated oil companies.
Peter Hitchens
Norway is a relatively high-cost area for oil exploration, the Norwegian Shelf is becoming more mature and it's slipping down the appeal curve.
Peter Hitchens
These are attractive assets, and an interest in upstream assets is always valuable,
Peter Hitchens
The compromise could be 700,000 barrels but the actual production increase could be around 400,000. At 1 million extra barrels prices may be drawn lower but at 500,000 prices could hit 40.
Peter Hitchens
Readers Who Like This Quotation Also Like:
Based on Topics: Business & Commerce Quotes, Investment QuotesWhat is Art? It is the response of man's creative soul to the call of the Real.
Rabindranath Tagore
Art is making something out of nothing and selling it.
Frank Zappa
At synods, I usually wait about a week before I speak. First I listen. I feel the temperature. I listen to what has been said, what has not been said, and what I think needs to be said at that point.
Godfried Danneels