first_imgSimply click below to discover how you can take advantage of this. Tullow Oil (LSE: TLW) shares have plunged in value this year.As the price of oil has crumbled, the oil producer’s share price has followed suit. At one point it was down by nearly 90% for the year. The stock has since staged a modest recovery, but it’s still almost 50% below the level at which it started the year.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…However, with oil prices recovering, the outlook for Tullow Oil’s shares is starting to improve. This could mean that the stock has the potential to produce substantial returns for investors.Tullow Oil shares on offer?At the beginning of March, Tullow Oil warned that it was facing the “perfect storm” of falling oil prices and high debt levels. If this perfect storm continued, management warned, there was a genuine risk the company could collapse.Luckily, the fortunes of Tullow Oil’s shares improved dramatically in April. It managed to agree on a firesale of its remaining stake in a Ugandan project to France’s Total for a deeply discounted $575m.Eight months before this deal was agreed, Tullow’s interest in the project was valued at $900m.Still, Tullow managed to buy itself some breathing room with this cash infusion. The company’s lenders also agreed to extend its $1.9bn debt facility.These developments removed any immediate threat to the company’s solvency.The oil price also rallied substantially over the past few weeks. It is now dealing at around $40 per barrel, up from $20 at the end of May, and $30 in mid-March.These tailwinds have helped Tullow Oil shares rally by nearly a third over the past month. There could be further gains ahead for investors.Rising demandAt the height of the coronavirus crisis, the world’s demand for crude oil dropped by around 20%, or 20m barrels of oil per day. This sent shockwaves through the global oil market, and the price of black gold plunged.Demand has steadily improved over the past few weeks. Forecasts now suggest total oil demand for the rest of the year will be just 10% lower than in 2019. On top of this growing demand, production cuts have reduced excess supply in the market.These factors suggest that the price of oil could continue to rise throughout the rest of 2020.That would be great news for Tullow Oil shares. Tullow reckons it can break even on a cash basis with oil at $35 a barrel, which suggests the company is generating cash at current oil prices.If the group can keep this up for the rest of the year, and pay down some of its massive debt pile, investor confidence should start to return. That may mean Tullow Oil shares could rise substantially from current levels. Indeed, with the stock down 50% year-to-date, it appears to offer a wide margin of safety at current levels.As such, Tullow Oil shares may be an attractive acquisition as part of a well-diversified portfolio at current levels. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. “This Stock Could Be Like Buying Amazon in 1997” Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Rupert Hargreaves | Tuesday, 9th June, 2020 | More on: TLW Could Tullow Oil shares make you a fortune? Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.center_img Enter Your Email Address Image source: Getty Images. Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Our 6 ‘Best Buys Now’ Shares I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. 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