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Is this fall another Black Friday sale 🤔
Investors who normally take their dividend in shares might want to jump the gun and get those shares now.
You do just wonder if OPEC are just playing the oil market.
According to a report I read last week they are active at shorting and going long.
Or in anyone else’s language “Insider Dealing”.
So could they just be being clever( or hurting the shorts).
If so once again it will turn quickly when they are ready
OPEC meeting moved to 30th November. Pressure on oil prices till then I imagine. Could see BP in the 450s
For buyback money
Nice move longtimeinvestor, but still not sure why it is falling?!
Oil is most likely oversold plus OPEC+ will make sure the market can not speculate this much further down. Just my take.
I bought back the shares that I sold at over 550p just over a month ago
Meoryou, ha ha ha !!
Will only top up @ 4.60 or less
Why? Still falling. I foolishly bought at 4.73 yesterday and thought it was a good price
Oil prices dipped early on Wednesday as a report emerged that this weekend’s meeting of the OPEC+ group will be delayed.
The November 26 meeting of the ministers of the OPEC+ alliance will be postponed due to OPEC leader Saudi Arabia expressing dissatisfaction over the production levels of the other members, delegates have told Bloomberg.
The meeting may be delayed for an unspecified period of time, according to the anonymous delegates who told Bloomberg that the Saudis have been in talks with the other oil producers about their output.
The Kingdom will likely try to persuade other OPEC+ members to make more cuts, hedge fund manager Pierre Andurand told Bloomberg earlier on Wednesday.
Oil prices were down by 1.7% early on Wednesday as the market expects the OPEC+ meeting and the weekly U.S. inventory report from the EIA later today.
Speculation is growing that OPEC’s top producer, Saudi Arabia, will extend its voluntary cut of 1 million barrels per day (bpd) into 2024, considering the latest slide in oil prices to $80 and the typically weak period for oil demand in the first quarter of every year. Market talk is also intensifying that OPEC+ could announce a deeper cut at the group’s meeting in the weekend November 25-26.
The recent weakness in oil prices “has increased noise over what OPEC+ will decide to do at its meeting on 26 November. We continue to expect that Saudi Arabia and Russia will roll over their additional voluntary cuts into early 2024,” ING strategists Warren Patterson and Ewa Manthey wrote on Monday.
“However, what is less clear is whether the broader OPEC+ group will make further cuts,” they added.
A deeper group cut combined with the Saudis and Russians rolling over their voluntary reduction would wipe out the currently expected market surplus in the first quarter of 2024, the strategists noted.
By Tsvetana Paraskova for Oilprice.com
Will do the same, waiting for US Market to open on possible further drop.
Clued
You can take the on line interview just now if you are free.
Questions
1) what are your plans for the div.
2) what are your green plans
3) what are your thoughts on take-overs
4) have you any plans for BP to leave UK
4) do you like buybacks.
5) Can you keep your ….in your pants.
Thank you for your time.
We will be in touch
At just over 465p
Jeffrey1979, Hunt won't nationalise BP, they are too big and can leave the UK anytime.
I'll take the CEO job if they're finding it that hard !!!
Another terrible day for oil which will get worse when teh US opens - OPEC meeting may be delayed, Hunt offeirng no respite on his nationalisation by stealth plan, BP cant find a CEO down the pub, everyne's too busy getting drunk on the booze freeze whilst the hospitals/GPs fill up with fallout of drinking too much alcohol and vaping. While benefits claiminats get more money..
Not BP anymore, but Grangemouth Refinery to shut
Know a couple of people on here with links
Going to just be an import terminal after 2025
Goes with the territory,
There's good and bad in everything, make sure you've set your stall out when it's good and then when we hit a few bumps in the road, they're well covered.
As LTH know only too well.
With multiple places BP could have invested the cash for this upgrade.
I struggle to think that they decided to us the cash here,if they did not think returns here would be better than investing somewhere else.
It also gave them exposure to the really big turbines considered the new normal.
I don’t think they just did it because it’s green.
Some other projects might have been chosen on green credentials,but don’t see that here.
Https://finance.yahoo.com/news/bp-invests-100m-indianas-fowler-132300283.html
If you're thinking of investing in BP you must be prepared for an emotional rollercoaster ride. If not, walk away. LTH
Bail out and buy back in again where you feel comfortable
As Clint would say 'There's money to be made in a place like this'
Oil price meandering down and BP following. Still very surprised at our price... But hey ho I am sure will be at 550 again soon.. This time I am bailing