Trump Administration's Drilling Plan: The Trump administration is preparing to announce a plan for oil drilling off the California coast, Alaska, and the Eastern Gulf of Mexico, which may escalate tensions with California Governor Gavin Newsom.
Governor Newsom's Opposition: Governor Newsom has publicly opposed the drilling plan, stating it is "dead on arrival" and highlighting that it faces widespread opposition across political lines in California.
Impact on California's Oil Production: California's crude oil production has significantly decreased, while U.S. oil output has increased, prompting Newsom to seek collaboration with oil refiners to manage rising gasoline prices.
Replacement of Biden-era Program: If implemented, Trump's proposal would replace a Biden-era offshore leasing program that limited lease auctions, indicating a shift in energy policy for the upcoming years.
Wall Street analysts forecast OILK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OILK is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast OILK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OILK is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 39.360
Low
Averages
High
Current: 39.360
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
