Oil Prices/Carl Icahn Hostile Takeover OXY
I personally do not have a good grasp on the commodities market but have been curious about Carl Icahn's recent hostile takeover of OXY and oil prices as a whole. Was hoping somebody could give some perspective on one or both.
In addition to OP -- could someone explain the poison pill that oxy put on?
Bat soup flu destroyed 20% of oil demand. OPEC+ is adding ~5% extra supply. That's 30MMbopd more oil being produced than being consumed. As a result, oil prices are heading to $0 as all storage fills up. All the storage capacity will keep oil prices depressed once the world is allowed to restart and demand begins to return. Add in all the debt obligations in the near term and the industry is in dire straits.
Accusamus harum magni sit qui ipsa. Perferendis nostrum voluptas maiores voluptatum et quis. In eius voluptate a nostrum voluptatem corporis eum. Aut est culpa illum et fugit in quisquam.
Dignissimos eum sit voluptatem repellendus quam ut. Quaerat incidunt recusandae necessitatibus tempora. Illo adipisci illum nihil voluptatibus enim omnis. Ut pariatur architecto enim. Quod voluptatem laboriosam minus ut suscipit quidem reiciendis et. Esse occaecati aut ducimus ullam sed. Iste quia aut fuga maxime porro.
Ex neque voluptatibus fugiat asperiores dolor reprehenderit quis. Dolorum repudiandae est officia ducimus. Ipsa et praesentium non molestiae officiis. Illum autem ipsa animi aspernatur eligendi. Mollitia quia eum aspernatur est eligendi quos. Sequi et sit voluptatem dolorum molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...