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Investment Bulletin: It’s not too late to invest in oil stocks

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Investment Bulletin: It’s not too late to invest in oil stocks

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In the case of Exxon, profit after tax was $56 billion, Chevron made about $37 billion. The official results will be announced by both companies at the end of January.

Investment Newsletter Subscriptionwhich is sent to email inboxes every Monday morning, you can sign here. You can always find the latest issue of the newsletter here.

Significant increases in oil and tural gas prices, especially in response to the Russian invasion of Ukraine, have had a positive impact on the magement of oil companies. At the same time, share prices have also risen – ExxonMobil’s share price is now 60% higher than a year ago. Chevron, whose largest shareholder is multi-billioire Warren Buffett’s Berkshire Hathaway, saw growth of 41 percent.

Over the past twelve months, the share price of Occidental Petroleum, of which Buffett now owns more than a fifth, has risen by as much as 90 percent.

SHARE PRICE DYNAMICS OF INDIVIDUAL OIL COMPANIES OVER THE LAST TWELVE MONTHS

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High profits and cash flow to the accounts allow miners to pay attractive dividends to shareholders, as well as buy back their own shares. ExxonMobil’s board of directors intends to buy $35 billion worth of shares this year and next. Chevron is due to buy back about $15 billion of its own securities this year.

Despite a significant increase in the value of shares over the past year, it may not be too late to invest in miners’ securities. Fossil fuels will be needed by the world economy for many years to come, despite the advent of electric vehicles and the gradual transition to renewable energy sources. In addition, in recent years, less than necessary investment has been made in new mining capacity around the world.

Yaroslav Kreychi: Tesla is following in the footsteps of Tsisk.  Its stock could be back at its highest for many years.
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Yaroslav Kreychi: Tesla is following in the footsteps of Tsisk. Its stock could be back at its highest for many years.

In the short term, the price of oil and petroleum products, and thus the profits of miners, should support the opening of the Chinese economy this year after the regime recently lifted a number of measures aimed at preventing the spread of covid. Due to economic growth, strong demand can also be expected from other Asian economies, including India.

In addition, some governments, including the US, will increase their strategic oil stockpiles this year after putting it on the market in the previous twelve months to cushion price increases. On the other hand, there is a risk of a recession, and not only in the US. The recession in the economy will reduce the demand for oil.

In any case, Swiss investment bank UBS expects Brent North Sea and US light oil (West Texas Intermediate; WTI) to bounce back above $100 a barrel this year. French investor Pierre Andurand, who specializes in speculation in the energy markets, is of a similar opinion. In his opinion, thanks to Chi, demand growth will be higher than currently expected. At the end of last week, Brent and WTI traded at $79 and $74.

Source: E15

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