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U.S. Department of Energy to Release 1 Million Barrels of Gasoline from Reserves. Political opportunism and timing of a planned rreserve storage closure over the peak driving period, on the run of to the election.
API data not good or expected. Still one week does not a summer make. EIA data will be interesting, as will full holiday demand data next week prior to Opec+ decision.
I expect my optimism was a week too premature. Large draws coming next week......I hope.
Https://oilprice.com/Latest-Energy-News/World-News/US-Department-of-Energy-to-Release-1-Million-Barrels-of-Gasoline-from-Northeas.html?s=08
Sorry guys and gals IMHO we are being dropped for a takeover... Shocking performance
@Jeffrey1979 The problem with any potential takeover is the current stance on Energy Security from the government. Would they realistically allow BP to be owned by a foreign interest? BP NEEDS to drop, or at the very least, curtail this green agenda. It's damaging the SP, the company's reputation, and big investors are getting frustrated... if it doesn't change, I wonder if they will try and force a change. BP is so undervalued at the moment, it's ridiculous.
Undercrackers
The board seem of the opinion that major shareholders are on board and happy with their strategy.
You are not the first to say major shareholders are unhappy.
It’s a major problem as there seems to be mixed messages.
It’s very hard for us to really know what’s going on
My first post on here so not trying to stir anything but I'm tempted to take a long term (min 12 months) position here.
Done a bit of homework and the positives appear to outweigh the negatives.
Any comment much appreciated.
O’Malley,
Welcome to the board.
Very mixed signals around so people can argue in all directions.
I’m still positive,but every drop back below £5 cannot be seen positively,except as an entry point.
Long term all believe company is very undervalued, but something has to happen to realise that value
Meoryou.
Thank you for your response. Probably take a position tomorrow depending on markets.
Greetings Omalley
May I join meoryou, who is one of the most respected and informed contributors of this forum, in welcoming you to the BP board.
With the proviso that in this world nothing is certain except death and taxes, in my opinion BP should be an excellent investment choice over your suggested timescale 12 - 24 months.
BP has an annually growing dividend that is the company’s number one priority of its financial framework. The company is aggressively buying back at least $14 billion of its stock by Q4 2025 at very undervalued levels.
BP in the 4.80s is an excellent entry point. Taking a look at the summer seasonal pattern for BP you can see that there is a summer slide possibly active. Over the last 25 years, BP share price has fallen over 52% of the time for an average drop of 5.26%. With the largest fall has been nearly 30% in 2015. This could be dejavu with 2023 when large % falls over the summer period were reversed in Q3. £4.50 to £5.60 There is a risk of a further temporary pull back but I was content to top up last week at 4.86, 4.88 as I never time the market perfectly and dips from this level will always find buyers.
Oil is going to stay higher from longer. Disregarding the short term data and the Western oil financial market speculators, a global oil supply shortage is less than two years away according to highly respected analysts.
The transition engines will start generatating returns by year end '25. Already profitable, costs are being returned to the balance sheet now.
I am hopeful that all of the above and more should see a revaluation over the next 1-2 years and a SP starting with 7 would not be a surprise by 2026.
Good luck
Mark