Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 60

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 60
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ically, the commodities market has been volatile. For example, the price of crude oil has experienced significant volatility over the last five years, with the price per barrel of West Texas Intermediate (“WTI”) crude, dropping below $20 per barrel in 2020 due in part to reduced global demand stemming from the global COVID-19 outbreak, and surging to over $120 a barrel in early March 2022, following Russia’s invasion of the Ukraine, to the $70s in recent months. Prices for natural gas and NGLs experienced declines of similar magnitude. An extended period of continued lower oil prices, or additional price declines, will have further adverse effects on us. The prices we receive for our production, and the levels of our production, will continue to depend on numerous factors, including the following:

 ·the domestic and foreign supply of oil, NGLs and natural gas;    ·the domestic and foreign demand for oil, NGLs and natural gas;

 ·the prices and availability of competitors’ supplies of oil, NGLs and natural gas;    ·the actions of the Organization of Petroleum Exporting Countries, or OPEC, and state-controlled oil companies relating to oil price and production controls;    ·the price and quantity of foreign imports of oil, NGLs and natural gas;    ·the impact of U.S. dollar exchange rates on oil, NGLs and natural gas prices;    ·domestic and foreign governmental regulations and taxes;

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 ·speculative trading of oil, NGLs and natural gas futures contracts;    ·localized supply and demand fundamentals, including the availability, proximity and capacity of gathering and transportation systems for natural gas;    ·the availability of refining capacity;    ·the prices and availability of alternative fuel sources;    ·the threat, or perceived threat, or results, of viral pandemics, for example, as experienced with the COVID-19 pandemic in 2020 and 2021;    ·weather conditions and natural disasters;    ·political conditions in or affecting oil, NGLs and natural gas producing regions and/or pipelines, including in Eastern Europe, the Middle East and South America, for example, as experienced with the Russian invasion of the Ukraine in February 2022, and the current armed conflict in Israel and the Gaza Strip, which conflicts are ongoing;    ·the continued threat of terrorism and the impact of military action and civil unrest;