Forecast Of The Day: EOG Average Daily Crude Oil Sales Volume
EOG (NYSE:EOG) Average Daily Crude Oil Sales Volume declined from about 456,000 barrels in 2019 to about 409,000 barrels in 2020. Trefis expects the metric to recover to about 442,000 barrels in 2021 and 446,000 barrels in 2022.
While volumes declined in 2020 due to the impact of the Covid-19 pandemic and the oil price war between Saudi Arabia and Russia, we expect it to recover in 2021 and 2022 as a rebound in economic activity drives oil demand.
We think that EOG stock is slightly undervalued at current levels. We value EOG at about $95 per share, about 10% ahead of the current market price.
See Our Complete Analysis For EOG Resources
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|S&P 500 Return||0%||25%||109%|
|Trefis MS Portfolio Return||1%||46%||293%|
 Month-to-date and year-to-date as of 12/22/2021
 Cumulative total returns since 2017