There’s still no indication that crude will take off yet. It’s trading around an important level today, which we have warned about for weeks. Nonetheless, regardless of what happens next, crude oil certainly looks stronger…
Oil Price in Australia
Looking around the world, there are many price indicators used to forecast the future economic environment. One of our favourites is the crude oil price.
‘The price provides a fitting picture of global trends and, as such, is widely cited.‘ Because of this, our editors frequently cover the latest news of the sector and provide in-depth analysis.
Australia is a reliable and competitive player in the crude sector. It has the largest gas reserves in the Asia-Pacific region, and is a world leader in Liquid Natural Gas innovation.
Attractive for Foreign Investment
Which makes the country attractive to foreign investment. The oil, gas and energy industries are major contributors to the Australian economy, and there remains strong growth potential for increasing gas production and exports.
National natural gas production is currently outlasting consumption, with new reserve discoveries and further unconducted exploration likely to continue the upward trend. Oil production, however, is declining, as mature oil fields are exhausted.
At today’s extraction pace, current oil resources will be depleted within the decade.
Crude oil is integral to multiple industries, particularly transport. But it’s also found in food, kitchen items, furniture, and clothes (for colour and anti-flammable properties).
History shows that potential gains can be made in the oil and gas sector, when investing in the right companies, at the right time.
When’s the right time, you may ask? Well, our editors will give you that answer. Read our latest news and analysis below.
At time of writing, a number of energy sector stocks are performing strongly, with Beach Energy Limited [ASX:BPT] a big winner with a 5.9% gain, trading at $1.435. The price of oil has been rising…