Bp Share Discussion Threads

[ny boy] 06/4/2020 08:20

Disappointed I could buy any around 325/330p this morning after the oil talks got postponed, I guess bargain hunters are buying all dips, good news for a move 400p + soon then imo

[watfordhornet] 05/4/2020 22:10

I can.What price is currently being paid - it is less than what is quoted. With storage running out and they cannot cut production they could end up giving it away

[panshanger1] 05/4/2020 20:05

@Apollocreed Badly phrased - I was making the point the oil majors moved up very strongly on the Thursday following Trumps comments and that there was profit taking on the Friday ( even though the oil price kept moving )

[turvart] 05/4/2020 19:06

I personally can not see $10 oil that would be fantasy land!

[apollocreed1] 05/4/2020 19:02

Thanks everyone. @panshanger1 - How can it be that stocks discount the future price rise before the oil price moves? They should all move up on rumors equally.

[amaretto1] 05/4/2020 11:13

It's going back down !! Simple ... 10 dollar oils coming !

[panshanger1] 05/4/2020 09:46

Market had already discounted the price rise following the Trump tweet -therefore profit taking and closing prior to the weekend

[amaretto1] 05/4/2020 08:51

Riseing on false hope !!

[apollocreed1] 05/4/2020 00:33

Why did this stock not go up on Friday in line with the strong rise in oil prices?

[mo2550] 04/4/2020 20:45

https://www.nytimes.com/2020/04/04/world/coronavirus-live-news-updates.htmlOil giants delay meeting, threatening to roil markets again.A meeting planned for Monday between officials of the Organization of the Petroleum Exporting Countries, Russia and other oil producers, which had buoyed hopes for a deal to end the turmoil in energy markets, has been put off, according to two OPEC delegates.The news comes as lingering tensions have resurfaced between Saudi Arabia, OPEC's de facto leader, and Russia over who is to blame for the recent collapse in oil prices. On Friday, President Vladimir V. Putin of Russia partly blamed Saudi Arabia for the price drop; the Saudi ministers of foreign affairs and energy then responded angrily, blaming Russia.News of the meeting's delay may roil the markets when trading resumes on Monday. Expectations for a meeting had added to hopes that OPEC and Russia would agree on production trims.The OPEC delegates indicated that further talks would be required before moving ahead with a meeting, which could be rescheduled for later in the week. Saudi Arabia had called for the meeting last Thursday, responding to pressure from President Trump.In early March, Russia declined to go along with a Saudi-led OPEC proposal to further trim production to deal with the plummeting demand for oil because of the coronavirus epidemic, leading the Saudis to walk away from a three-year agreement with Moscow on production trims.

[amaretto1] 04/4/2020 17:51

Near impossible for Russia to cut !

[optomistic] 03/4/2020 21:24

Brent $32.48, if that holds could be a firm start for BP in the morning.

edit...Monday morning, lost track of days being in all week :-/

[bmnsa] 03/4/2020 19:36

There is such a glut of oil and we still only at the beginning of the emergency in the US and in the UK.

[gooner1886] 03/4/2020 19:35

Maybe we will see 300 here who knows its a long few months ahead i believe

[watfordhornet] 03/4/2020 19:34

There is no option other to reduce production.There is no storage(or won't be shortly) - they can free up storage by giving it away. It will cost less than water if they keep pumping at current rates unless China really ramps up.Does not need trump - if no where to put it what do they do. Pay someone to take it?

[bmnsa] 03/4/2020 19:30

I disagree

[lisachan] 03/4/2020 19:25

So actually the demand isn't there to make any difference on oil prices to benefit the company, i did missed my entry point @ 245p just don't think that would happen in near future.

[lisachan] 03/4/2020 17:59

Hi NyBoyDo you mind to explain, the business nature of BP , which direction of the oil price does it benefits, seems strange today that the oil up yet the share price DOWN ?Thanks

[waldron] 03/4/2020 17:53

Brent Crude Oil NYMEX 32.55 +8.72%
Gasoline NYMEX 0.68 +2.44%
Natural Gas NYMEX 1.71 +2.03%
WTI 26.67 USD +8.06%


FTSE 100
5,415.5 -1.18%
Dow Jones
20,990.67 -1.97%
CAC 40
4,154.58 -1.57%
SBF 120
3,262.43 -1.67%
Euro STOXX 50
2,662.99 -0.67%
DAX
9,525.77 -0.47%
Ftse Mib
16,477.88 -2.12%



Eni
9.325 -5.21%



Total
33.53 -7.58%



Engie
8.698 -2.20%

Orange
10.985 -0.59%


Bp
337.3 -4.54%

Vodafone
111.02 +0.65%

Royal Dutch Shell A
1,471 -4.58%



Royal Dutch Shell B
1,418.4 -4.14%

[ny boy] 03/4/2020 17:30

Will look to add on Monday if I can get around 320/325p or less down to 315p

[johnwise] 03/4/2020 11:09

Saudi Arabia has called for an urgent meeting of the OPEC+ group and other countries in an effort to reach a fair agreement to restore the desired balance of oil markets, state media reported..

[veryniceperson] 03/4/2020 10:39

If he gets his way that will stabilise price per barrel. Those who brought and held rub your hands. Well done if it comes off.(Bloomberg) -- President Donald Trump is trying to get the world to cut oil production by at least 10 million barrels a day in an effort to end a market-share war that sent crude prices plunging to the lowest levels in two decades.Trump shocked markets on Thursday by tweeting that he expected Russia and Saudi Arabia alone to cut about 10 million barrels -- or roughly a 10th of global petroleum, sending oil prices soaring. He later told reporters they could cut by as much as 15 million barrels.A person familiar with the discussion later said that Trump, after a call with Saudi Arabia Crown Prince Mohammed bin Salman, was hoping to get other oil market participants to contribute to the cut, too. A second person familiar with the situation said Trump's goal is purely aspirational and will ultimately hinge on whether Saudi Arabia and Russia can reach a deal.In the latest twist on Friday, the OPEC+ coalition, which includes both Russia and the Saudis, was said to be making preparations for a meeting as early as next week.Saudi Arabia, which hasn't voiced outright support for a cut, has been calling for such a meeting to discuss a "fair agreement." The response signals the country will only cut output if others do so and raises the question of whether the Trump administration is willing to cap America's own production to reach a global accord.Russia's response has been arguably harsher. In his tweet, Trump said he had spoken to MBS, who had in turn spoken with Russian President Vladimir Putin. But a Kremlin spokesman, Dmitry Peskov, said the conversation hadn't happened and confirmed that no production cut had been agreed to with the Saudis.An OPEC+ delegate familiar with the conversations similarly said Saudi Arabia and Russia had yet to agree to production cuts -- let alone their size. Any proposed curbs would be conditioned upon every other major oil producer also agreeing to reduce production, the person said, asking not to be named discussing diplomatic conversations.Meanwhile, Trump told reporters on Thursday that he expected a deal to be reached soon."It would be great for Russia, it would be great for Saudi Arabia -- I hope they make that deal but that's what they told me," he said. "Can something happen where it doesn't happen? I guess? In which case there's another alternative, but I'd rather not see the other alternative."Import TariffsThe White House has considered tariffs on foreign oil imports to protect U.S. producers, though the idea is opposed by some top Trump advisers led by Larry Kudlow, the director of the National Economic Council, according to people familiar with the matter.Saudi Arabia wants countries that aren't part of the OPEC+ alliance to join in any future pro-rationing. Although Riyadh hasn't drawn up a formal list, in the past OPEC+ had invited big American oil producers, Brazil and Canada to its meetings. Both Canada and Brazil have previously declined.In a rare move for a state energy regulator, Ryan Sitton -- one of three commissioners at the Texas Railroad Commission that oversees the state's powerful oil industry -- said on Twitter Thursday that he had discussed a 10 million-barrel-a-day cut to global supplies with Russia Energy Minister Alexander Novak and planned to speak with Saudi Arabia's energy minister. Sitton has been pitching a plan for days that would have the U.S. and OPEC working to cut production together.The idea of a U.S. production cut, probably executed by capping exports, is also on the table at the White House, though many oil industry representatives have warned that the approach would cause the U.S. to cede the very "energy dominance" Trump has repeatedly celebrated.Export LimitsA chief argument is that dialing down U.S. production is not aligned with the president's "America First" agenda, said a person familiar with the matter who asked not to be named discussing lobbying strategy. For his part, Trump said Thursday that he had not discussed the possibility of U.S. oil production cuts."It's not clear what mechanism the White House could use, and I don't think a lot of the tools that have been publicly reported would have the effect of cutting production," said Katie Bays, co-founder of Washington-based Sandhill Strategy LLC.Restricting exports would likely be the most effective method of scaling down U.S. production, she said. That, coupled with letting producers use the government's Strategic Petroleum Reserve as oil storage, "would functionally seem to work for the next few months to take oil off the water," Bays said.Internal ConfusionBefore Thursday, the U.S. president had signaled some ambivalence about the oil price war. He's remarked that low prices at the pump for American consumers amounts to a tax cut, while also saying he didn't want the U.S. shale drilling industry to collapse.Conflicting messages from the Trump administration -- the president has said he likes low gasoline prices, while Secretary of State Michael Pompeo and others have urged the Saudis to cut production -- have undermined the U.S. government's leverage, one person familiar with the discussions said, asking not to be identified because of the sensitivity of the matter.Read more: Why OPEC-Russia Blowup Sparked All-Out Oil Price War: QuickTakeThe White House had said that, in a call with Putin earlier this week, the two leaders agreed that "stability" was important for energy markets.Brent crude, the international benchmark, ended Thursday up 21% after Trump's tweet. Prices slipped back Friday as doubts grew about the viability or such a deal, trading down 3.5% at $28.89 a barrel as 2:39 p.m. in Singapore.Trump is scheduled to speak with the leaders of U.S. oil producers and refiners on Friday. One industry executive said the president may have been motivated to remark on the surplus oil production because the U.S. is literally running out of physical space to store crude."I think something like this was inevitable because there is nowhere to put the oil," said Dan Eberhart, a Trump donor and chief executive of drilling services company Canary Drilling Services. "I think this is out of necessity, not out of gamesmanship."(Updates with OPEC+ talks in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.