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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ongoing NSW lockdown, the ins and outs of the COVID-19 Disaster Payments, and how Brisbane’s successful Olympics bid could impact equities and property.

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Steve Waters, director of Right Property Group, chats about the impact of the lockdowns on the property market, what the 2032 Olympics could mean for Brisbane’s market, and whether APRA might need to pull the handbrake to cool house price growth.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into how the Olympics and other major events affect stock returns and what the implications are for investors.

And lastly, tax and super guru Timothy Munro talks about the near-record super returns, the COVID-19 Disaster Payments and what they mean for your super.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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The Olympic effect on property and equity investors; COVID-19 Disaster Payments ...

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There is $17.5 billion in lost and unclaimed super across ...

Invest

Oil could see single-digit prices

By Lachlan Maddock and Cameron Micallef

April 03 2020
Share

Invest

Oil could see single-digit prices

By Lachlan Maddock and Cameron Micallef
April 03 2020

Following Russia and Saudi Arabia ramping up oil production as demand for oil falls, consumers could be the major winners as the price of petroleum drops to single digits, industry experts have suggested.

Oil could see single-digit prices

By Lachlan Maddock and Cameron Micallef

April 03 2020
Share

State Street Global Markets (SSGM) said it can’t rule out oil prices below US$10 a barrel as demand drops by more than 20 million barrels per day.

“As we look at pictures of empty streets in London, New York and other major cities around the world, it is clear 2020 is going to see far fewer miles driven,” said Ben Jones, multi-asset class strategist at SSGM.

“US gasoline consumption alone averages 9 million barrels per day throughout the year and would normally be expected to increase in the coming months as the US driving season (April-September) gets underway. However, the reverse trend is likely to be seen this year, as it is not just local travel restrictions that are hitting oil demand.”

Airlines are also grounding large sections of their fleets, and while planes are still transporting cargo, a “conservative estimate” of 50 per cent fewer flights would still see a reduction of 5 million fewer barrels of oil a day.

“Despite these statistics, major oil producers continue to pump more,” Mr Jones said.

“From 1 April, Saudi Aramco will open the taps and produce 12 million barrels of oil a day, up from an average of 10 million. From a budget perspective, Saudi Arabia will need oil prices of around $87 to breakeven, whereas Russia needs oil at just $42. There is no sign that Saudi Arabia and Russia will return to the negotiating table any time soon, so we expect little softening in either’s stance.”

US shale may be able to sell to the US Strategic Petroleum Reserve at relatively high prices, but with supply now exceeding demand by more than 20 million barrels a day, those stores could fill within three to four months.

“Storage is profitable at the moment, as the futures market has moved into “super contango”. However, oil has had its worst quarter ever in dollar terms, but single-digit oil is still a possibility,” Mr Jones said.

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