Questor share tip: Shell results should reverse share decline
Investors in Royal Dutch Shell must have been very relieved that the recent oil spill in the Gulf of Mexico was nothing to do with them. The oil came from “natural seepage” from the sea floor.
By Garry White 7:00AM BST 22 Apr 2012
Shell
£22.02½
Questor says BUY
However, the news hit the shares hard. Indeed, the shares have been on the slide all year, despite the price of Brent crude being above $120 for much of the year on concerns over supply from the Middle East and North Africa. They hit a high of £24.89 on January 10.
Credit Suisse recently increased its 2012 Brent crude forecast to $125 a barrel, with $132.5 in 2013 and $135 in 2014, citing a lack of supply and continued growth in demand.
Questor expects that next week’s first quarter numbers, released on Thursday, will put a stop to the share price slide. Indeed, Shell’s results could be the strongest of all the integrated oil companies posting next week.
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