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Biggest gamble would probably be on Wednesday ahead of the meeting. Could go either way then.. But who wants to play the 50-50 game, heads or tails. Rest of week would be up and down on speculation and oil price rise or falls
Shaza...as you say, what do we all know, my guess on 300 was pure speculation, as oil was down over 10% earlier today I thought my prediction was spot on. For whatever reason it has recovered all of its ground. I still think we will see 300 sooner rather than later. As I said last week, I have one last big investment to make, I need to time it right and at the moment I do not think that time has arrived. Good luck.
It will be volatile all week I know.. Could be 400p or be at 250..
But was hoping for a rise this morning which it is and for me to bail and come in on another low
Shaza...give it time.
Up on opening.. Shows how much peeps know.. Not to say it won't dip down later but people were adamant on here that it would bomb on opening
Brent crude recovering from early lows, futures up.. Interesting to see starting price of BP.
Will be volatile all this week
Watched the Beeb News a while ago and can not believe what I'm hearing - the public are waiting for the figures to start showing downturn to bring things back to normal.
Are they MAD.
As I've said before, a virus works in mysterious ways and no one is immune; it's just the severity of the manner in which you present - on the whole, If you're young and "immune", who cares, you're indestructible, but the people you come in contact with...…. Come on ladies & gents.
The major problem with this issue is the containment and with reference the above, what hope do we have until a vaccine is presented and "slackers" cease their ways.
Sorry to sound so morbid but the selfishness of the "a" holes who flout the advice is going to effect us all - report the perps.....
Hammer,
Respect to you bud, I'm on the 2-stroke from the mower at the moment - not bad actually, cheeky little number. Cant wait to get back to the 98 octane from BP. Take care and keep safe.
Red,
Fair play - this whole site is about opinions and everyone is entitled to their own opinion and quite rightly so... Think you need to be a little cautious of your expectations - my opinion only. With regards the other producers you mention, maybe, may be not, they're not the biggest players on the planet and they still have their own goals (which invariably, are never moralistic).
Building C19 in, I don't think the market expected this thing to extend so far so IMO, there is still a further down.
I hope there will be upside soon and good news on C19 which will extend further into the markets.
Set aside the tragedy (which I know is hard), but these times are either an opportunity, a temporary bad dream or a day traders dream.
Let's keep things real and keep that faith. Everyone take care and keep safe.
Hi All. predictions of 235p to 400p,so no one really knows. i personally see a figure nearer to the 235p prediction. If you had any idea of what the world is facing, massive unemployment, huge amounts of un payable debt. money printing gone crazy, zero interest rates, end of share buy backs, massive fall in movement of people and goods. Our wonderful Co really needs to grasp the nettle and use the financial clout and infrastructure to help society out of this hole. BP can not do it alone but big business needs to come together for a common good and not just for short term gain. ATB Speedy
Personally expect the SP to hover around 340 (+/-10%) until there is official news/development with either production cuts or covid-19. Suggesting a return to sub 250 is as ludicrous as expecting the SP to go anywhere near 390.
AKA, in the short term an increase in production was expected by both Saudi Arabia and Russia, yes there were always prospects of production cuts but we are now in a position where countries such as Norway, Canada, and potentially US oil producers may join the efforts to reduce production, and that was not previously on the radar. Agreed that until something concrete comes out of it it's only speculation, but it is undoubtedly a positive development.
The Covid-19 uncertainty is priced in and the point of my last post was to dispute a return to sub 250. There has been no development to suggest a return to those prices.
Lol.thnx mate.im drinking thinners at the min! God bless ya.ur a star.and a wise person.i will take heed from ya.
Hammer,
Appreciate we're all in self isolation but if you've run out of alcohol, at least leave the diesel until week 4
Keep Safe and Take Care
Hi Redblu, there were never any "no prospects of production cuts" just a doubt they wouldn't happen - so this was factored in to SP, to date, with the usual +/- hype. With regards the last week with the "meeting", as I've said in earlier posts, we need to look at the bigger picture with regards the Russians (with a gazillion BOO in the ground), the Saudis / OPEC - who are crapping themselves as oil is 80% GDP, to the oranged haired wonder boy, who has friends and business interests, all working their individual motives - DYOR
Countries saying they are reaching a reduction in C19 and the end is in sight, look how a virus works without a vaccine - it bounces back and restarts the cycle until either, there is a human tolerance or a readily available vaccine.
We need to be realistic about the situation and then, only then, try and work out what will happen with the markets.
Lol.with all that's going on.it will smash through 3.90 tmmrw and upwards.when and if a deals met it will float at 4.50 regular over 6 months.the deals to buy friday bit of a give away.one just short of.1.3 mill.milky milky time!!
That's a pretty precise number.. Who knows what may happen certainly not you or I else we would both be multi millionaires by now.
I will follow with keen interest tomorrow and rest of the week
It reached sub 250 when there were no prospects of production cuts and the impact of covid-19 was a huge unknown. Over the course of the last week it has materialised that there are efforts to reach a production cut and the worst hit countries in Europe appear to be showing a downward trend (Italy/Spain), although covid-19 does continue to be a huge unknown. Based on the aforementioned i highly doubt that we'll be seeing such a significant drop.
If it starts tanking may just bail and buy back again later in week.. Have already profited once on a 50p swing on this.. Or there is the long term approach too as I am not desperate for a quick buck and can afford to sit on them so can leave it in there for better times hoping dividends still are payable.. Will be eagerly watching Monday morning and rest of week, not decided yet..
How things change day to day.. No guarantee it will drop to 300p Monday.. Could do with another trump tweet really bigging things up
Why would it be £3 on Monday ?
https://www.wsj.com/articles/saudi-russia-war-of-words-delays-oil-truce-talks-11586001480