Oil market volatility presents opportunities and risks for Advance Tank
Advance Tank’s large contracts with petrochemical companies exposes it to fluctuations in oil markets. Increases in the price of oil and government incentives prompt large capital expenditures to expand oil production. Storage tanks are an essential part of oil infrastructure, with new tanks built when prices are high. Tanks are also essential when prices drop. Companies must hold oil supply to wait out the low prices. Advance Tank’s exposure to oil markets presents a great opportunity with notable risks.
StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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