Ok, so I understood the run up with XOM, CVX, OXY, MRO and PXD etc. until about a week/ two weeks ago. Recently the price of oil is down and falling. There are also other headwinds, notably; increased adoption and desire for electric vehicles, decreased airline travel, decrease in the use of plastics, regulation/ political issues etc. and this is before we talk about lockdowns in certain parts of the world due to covid, declining car sales and a pending recession/ slow down in good being sold and moved about.
Why are all of these stocks up significantly over the past 5 to 10 days? The stock pricing currently IMO would suggest oil is around $120 or more per barrel for some of these, but none seem to reflect the current $95 per barrel price.
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