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Geoff Guenther

Saudi Arabia buys stakes in four big European oil firms

Geoff Guenther in Oil (General)

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Geoff Guenther    + 317

Geoff Guenther

A benefit of having cash in your pocket is the ability to buy when investors are fleeing. It's not just J. Paul Getty and Warren Buffett that time their buying.

In any case, the Saudis obviously don't believe that $20 oil is the future as they are buying others when their stock is cheap. It probably doesn't hurt that both Shell and Equinor have a fair amount of green tech and investment.

https://www.reuters.com/article/us-health-coronavirus-saudi-oil/saudi-arabia-buys-stakes-worth-1-billion-in-european-oil-companies-wsj-idUSKCN21R01W

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