So oil is now hovering around 93..so what.. Hibiscus is still creaming it. Everyday RM10 million plus revenue at 27,000 barrles of oil equivalent.. They will make more this quarter than they did the whole of last year.. And even if oil went down to 80..they will still be immensely profitable. So if hibiscus turns over RM3 Billion plus this calender year and they make 700 million plus.. You think their share price will still be at 1.14??
This is the repeat of the glove bull run. Once u take profit, it will continue go up and u tak tahan and have to buy back again at higher price. So just keep,and ho.d. The bull is still young
risky to invest in oil counters, i would recommend to invest in Dnex. as it would ride on higher oil price but at the same time even if oil price drops it would still be on uptrend due to chip shortage
The price of global refined products are soaring—even more so than crude oil itself, as demand for those refined products is proving too much for refiners to keep up with, according to a new analysis by Vortexa.
Inventories of refined products are now near historic lows—and given the refining maintenance season that will soon be upon Asia and Europe, it doesn't look that those historical lows are going to ease substantially.
Most refiners in Asia and Europe enter their refining maintenance season in Q2. But so far, Vortexa says, there is no indication that those refineries have plans to ramp up production ahead of maintenance season to provide a cushion to survive turnaround.
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Tobby
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Posted by Tobby > 2022-02-15 17:27 | Report Abuse
Sold all at 1.20! I am not complaining! Seems overbought!