** Bernstein says short-cycle U.S. shale oil production can react to lower crude prices, and expects loss of 1.2 million barrels of oil per day (bopd) over the next year
** "Low price can incent OPEC to step away from its strategy of adding barrels to the market" - brokerage
** Brokerage expects OPEC to take market share as they have declared, forcing inventory builds (and falling price) in 2H25, forcing U.S. horizontal oil rig count down towards 320 which will remove ~1.2 mln bopd from shale oil
Brokerage changes price target on the following companies:
Company | Old PT | New PT | Upside to stock's last close |
APA Corp APA.O | $23 | $22 | 19.4% |
ConocoPhillipsCOP.N | $120 | $115 | 24.2% |
Devon DVN.N | $45 | $43 | 31.5% |
Chevron CVX.N | $168 | $149 | 1% |
Exxon XOM.N | $140 | $129 | 16% |
DiamondBack Energy FANG.O | $200 | $192 | 39.2% |
(Reporting by Katha Kalia in Bengaluru)
((Katha.Kalia@thomsonreuters.com))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。