Bp Share Discussion Threads

[veryniceperson] 17/2/2021 10:46

Not quite $63.99 just now. Tell the truth!

[invisage] 17/2/2021 08:02

BP and Shell Blue whilst FTSE red!

Strength...

[veryniceperson] 17/2/2021 07:40

Will we see $64 a barrel this week? I think we will. It certainly seems to be heading in the right direction ?

[slinkyj] 16/2/2021 21:41

BP and Chevron have become part-owners of Eavor, the Canadian start-up that offers unlimited, on-demand renewable energy anywhere in the world through an innovative deep-geothermal solution.

[misca2] 16/2/2021 17:09

$100 Oil: Big Banks Believe A New Oil Supercycle Is Beginning
By Julianne Geiger - Feb 16, 2021, 11:00 AM CST
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Some of the world’s biggest names in oil trading and analyzing can’t seem to get on the same page when it comes to predicting what will happen next for the volatile commodity.

Some, like Jeffrey Currie of Goldman Sachs and Christyan Malek of JPMorgan, according to the Financial Times, are confident that oil is ready for the next supercycle—a prolonged rise in the price of oil.

And when they refer to this rise, they’re talking $80, or even $100 per barrel.

Others, like oil analyst Arjun Murti who correctly predicted the last $100+ per barrel achievement seen between 2008 and 2014, say that talk of this next supercycle may be a bit hasty.

For Malek, he sees a situation where demand outstrips supply, before “we don’t need it in the years to come.”

The reason for supercycle predictions is simple: stimulus packages, most notably the stimulus package that the U.S. government is expected to roll out, are expected to boost consumption.

And according to Currie, this stimulus will create a “significant, commodity-intensive consumption” as the stimulus package is mostly targeting lower and middle-income households.

“These people don’t drive Teslas,” Currie explained. “They drive SUVs”.

Murti, on the other hand, thinks that if oil demand were to increase by a half a million barrels per day over the next year, it wouldn’t be enough to outstrip supply.

As a point of reference, global oil demand sank roughly 10 million barrels per day as a result of the pandemic in 2020.

If, however, oil demand were to pick up steam by as much as 1.4 million barrels per day, a supercycle may follow.

Veteran trader Pierre Andurand told the Financial Times that the fate of oil prices rests on OPEC—specifically on how much oil they supply.

Standing in the way of the next supercycle, says Andurand, could be Iran returning to the global oil markets, and OPEC’s production in general.

Retired veteran trader—a particularly successful one that made a not-so-small fortune on oil’s last supercycle—Andy Hall, sees the oil market in “terminal decline” the Financial Times writes, and likened any price rally as a dead cat bounce.

By Julianne Geiger for Oilprice.com

[optomistic] 16/2/2021 16:45

34adsaddsa, thanks I hadn't thought about that.

[34adsaddsa] 16/2/2021 16:18

The US markets were closed yesterday for Presidents' day. The US is just catching up with the London move.

[imastu pidgitaswell] 16/2/2021 15:01

Possibly...

$:£ - FX; OK? ;-)

And they say I'm not down with the kids...

(⊙_⊙;)

[optomistic] 16/2/2021 14:56

Imastu, is that short for it's a fix ;-/

[imastu pidgitaswell] 16/2/2021 14:48

FX...


:-)

[optomistic] 16/2/2021 14:44

A clear $1 gain on the ADR's and BP on the FTSE falls...something is wrong here!

[invisage] 16/2/2021 14:36

Energy strongest sector in the US

[invisage] 16/2/2021 14:32

Dips getting bought........Back to netflix not going to get shaken out..

[dominiccummings] 16/2/2021 13:56

I guess you mean 'smartest'

[invisage] 16/2/2021 11:57

Exxon up 2.9% Pre market....Think BP will move up after US opens...

[fardels bear] 16/2/2021 10:03

Two of the universally least trusted banks in the world. That's the only problem.

[invisage] 16/2/2021 09:56

Feels like some institution runs an algorithm to cause the price to spike down to fish for stops.....But it gets quickly bought up....Just makes it cheaper for others to buy......


We know BP is worth a lot more than current share price so not selling...

[crazi] 16/2/2021 09:24

Two of the biggest banks on Wall Street are calling a new “supercycle” in oil, with JPMorgan Chase and Goldman Sachs both predicting prices will soar when the pandemic abates.

The most bullish forecast has international crude prices staging a comeback towards the $100-a-barrel region — a level not reached since 2014. The expected surge is predicated on the belief that fiscal stimulus will boost consumption just as investment in new production has been sucked out of the industry. Such a disconnect between demand and supply, fuelling a lasting surge in prices, are the basic conditions of a so-called supercycle.

[crazi] 16/2/2021 09:00

Two of the biggest banks on Wall Street are calling a new “supercycle” in oil, with JPMorgan Chase and Goldman Sachs both predicting prices will soar when the pandemic abates.

The most bullish forecast has international crude prices staging a comeback towards the $100-a-barrel region — a level not reached since 2014. The expected surge is predicated on the belief that fiscal stimulus will boost consumption just as investment in new production has been sucked out of the industry. Such a disconnect between demand and supply, fuelling a lasting surge in prices, are the basic conditions of a so-called supercycle.

[invisage] 16/2/2021 08:48

yep

Those who buy BP by Close tomorrow will get the dividend....

[invisage] 16/2/2021 08:07

See chart above

We are getting a re-run of the early Jan move from £2.55 to £3.10 in a few days...

[invisage] 16/2/2021 08:05

Expecting a re-test of the January highs at £3.10 soon

[invisage] 16/2/2021 07:44

April Brent currently $63.50/bbl

[invisage] 15/2/2021 21:59

OIL MARKET: WTI settles above $60 a barrel. And Brent above $63 a barrel. The backwardation continues to step up across the curve. Brent one-year spread has surged >$5.5 a barrel. And lots of action in the North Sea, physical market, with ~20 bids and very few offers



OIL MARKET: The situation in the U.S. is very complicated: Permian oil output has fallen by ~1m b/d due to cold weather. U.S. GoM refiners runs rates are down by 3.1m b/d. And oil demand? Few put a number. But for sure gasoline is down; while diesel and LPG are way up