Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Strike Energy Limited (ASX:STX)
Brent crude oil prices have fallen by over 50%
since January 2020 to just under US$36/bbl on the back of a slow-down in global
energy demand as a result on the ongoing coronavirus (COVID-19) outbreak, and a
concomitant step up in supply. Prices fell by 9% on Friday 6 March on news that
marathon talks at Opec’s headquarters in Vienna collapsed when Russia refused
to join an Opec plan to cut supplies. On Monday 9 March, Brent prices plummeted
by a further 26.8% to US$33.34/bbl, in response to Saudi Arabia, the
world’s top oil exporter, stating that it will step up crude oil production
from next month.