Despite the short-term realignment in share prices of the global oil conglomerates, Cornerstone Worldwide are apparently encouraging investors to see the situation as an excellent buying opportunity.
“The days of cheap oil are well and truly over and any reductions in demand from developed economies won’t make up for that of China and India”, suggested an unnamed commentator at Cornerstone Worldwide.
As stocks in BP, Royal Dutch Shell, Exxon-Mobil and others continue to retrench along with the crude oil price in general, Cornerstone Worldwide have warned investors not to be seduced by sensationalism in the media. “The US economy needs oil prices to fall and the tactic in use at the moment is the focus on the demand side of the equation. Eventually, the supply side will come to the fore,” said the source.
“Once investors begin to realize that all the talk of oil shale, oil sands and all the other ‘Great White Hopes’ being touted as potential solutions to the world’s energy problems are going to prove very expensive to implement, oil majors will soar”, the Cornerstone Worldwide source concluded.
