Not the only one but E & Ps have ad a bad month of November and is carrying into December even worse. 30% down over that time.
It will take a 45% climb just to get that 30% back.
The price of oil will need to get to (WAG) $100/bbl for that to happen.
These oil booms always end quicker than expected...
The huge SPR release put constant pressure along with covid shut downs in China on the price of oil...now, with hope of China opening we are seeing signs of the recession the government wants with interest rate hikes to kill inflation.
Saudi Arabia is not protecting the oil price as they said they would.
Russian oil production is not being curtailed so far by sanctions.
The lower we fall the harder it will be to climb back up for all E & Ps on their share prices.
