Forecast Of The Day: EOG Resources Average Daily Crude Oil Sales Volume
EOG Resources (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 demand to recover in 2021 and 2022 due to the broader global economic rebound.
We think that EOG stock is slightly undervalued at current levels. We value EOG stock at about $95 per share, about 10% ahead of the current market price.
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|S&P 500 Return||1%||26%||111%|
|Trefis MS Portfolio Return||2%||47%||296%|
 Month-to-date and year-to-date as of 12/27/2021
 Cumulative total returns since 2017