Oil companies all over the world has their stock prices at all-time low.
At the time of writing this article, Exxon (XOM)’s share price of USD 34 equals March low this year, while Shell (RDS)’s share price of USD 24 is a mere 10 percent above the pandemic low.
These prices were lowest in two-decades.
Chevron (CVX) is the better performer. Still, the price of USD 71 is at decade-low, if we disregard March’s trough.
China Oil giants are not spared from the price onslaught. Share prices of PetroChina (857) HKD 2.2 and Sinopec (386) HKD 3.0 both dived below March low, hitting record low in the last 15 years.
CNOOC (883) HKD 7.3 is not too far above March’s trough and is at decade low.
Question: Are the share prices cheap now? Should you buy now?
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