Member Info for AKA0501

Why?

Where are the facts coming from to substantiate this claim.

Look at what oil is doing and then look at the futures and then look at the "future". Next few months will be bad, but we all know that, and have done for at least a month.

Get real, the next three months will be turmoil for the oil boys, but the initial shock has happened and there is intrinsic value in the SP knowing what is going to happen on the other side. Once the demand returns and storage is back down, on the road to normality.

Don't think you are a holder, you're waiting to get in at a potential low value and pedal your views on that.

Not Helpful!!!!!

Come on..... Did people not see the over supply coming.

The prices you are talking about are speculative prices that no one would trade at (apart from the cancerous futures market).

BP, and any one else, will not be selling, this is the foreseen "turn the taps off" - now factored into their model - this isn't their first rodeo!!!!! Forced reduction in BPD production - one in the eye for the Putin and OPEC playgroup.

Whether it be Brent, WTI or Louisiana Light, there all up and down by varying degrees, some a little, some a lot - a load of bo**ocks.

Let's get a grip and see what is really happening - over supply has caught up, C19 lockdown will taper off over coming six weeks, demand will start to increase (not to normal levels, but increasing all the same [apart from "tourism" requirements], then wave 2 will take effect due to USA and "followers" dropping isolation to early and that will cause a further dip. De Ja Vu, some may say, and they may be correct, however, the vaccine will be starting to rear its head and six months later, here we go again - BOHICA.

Sounds a little Nostradamus, but look at behavioural history of stupid humans following BS advice from "those in the know".

Sorry Chaps, didn't mean to go on. Back to a glass of Don Lambrini …..

Good Luck All and Keep Safe

Heard the Iranians were playing with their bath toys on Tuesday and "potentially" took the wrong marine flag book to the party. It was, apparently, a tanker under the Honk Kong flag - Mr Xi not a happy chappy.

Perhaps the Chinese will be looking for oil in some different places????????

It's looking that way, although, I cant see how much more further bad news they can come up - apart from reducing / cancelling the dividend...

Finley,

Care to explain?

US open for business soon - Don't believe a word Agent Orange says - he's either blind, stupid or both.

How can you have any trust in a man who calls a professional newscaster, and her network, FAKE, because he doesn't like the question - Sorry chaps, not a particular fan of Trump.

As far as Spain and Italy are concerned, don't do it - they will cancel out the progress they've made (all be it, some would say after the corona bond debacle with Germany & Holland, they need to get some cash in some how).

As far as Italy & Spain opening up and increasing consumption, main stay of economy is Tourism...…

Everyone keep safe, stiff upper lip etc.

Speedie,

Appreciate it was a simple typo but can I order 3 pairs in beige mohair - well it is summer and don't want to be out done by the Eton crowd.

Keep up with the humour.

Experience without theory is blind, but theory without experience is mere intellectual play.

RBR,

See what you are saying but I think the only thing incorporated into the share price recently (seeing the huge daily swings) is fear and hearsay.

When the wider market comes to terms with the actual effect of the situation on the wider economy, I see the price having a little tumble.

I accept it's only one point of reference, but the EIA figures speak volumes - they expect their unemployment figures to increase until Jan 2021 - I don't think Agent Orange checked that report before his last speech!

I apologise if I can sometimes be a little general in my comments but with oil being so intricate to our daily lives, from a litre of fuel to a plastic bag, I am trying to look at the whole picture surrounding our beloved BP.

You are obviously a holder, as am I, but we need to take a good hard look at the reality out there and stop trying to prop up our holdings that are going to take a battering - they will come back.

Just my opinion - all, keep safe

Also, take a look at this;

https://www.eia.gov/outlooks/steo/report/global_oil.php

Pay particular attention to the employment figures and supply requirements (only US but significant)

BRR,

A comment based on my opinion - Looking at the typical global consumption of oil compared to what it currently is (figures do vary but some estimates put it at 65M to 25M) provides a serious problem, obviously. When you look at the Saudis and the Russians output alone in the last couple of months, you can see where the discrepancy crept in between supply, demand and, more importantly, storage.

if the 65M & 25M figures are about right (which would appear to correlate with "lockdown" conditions), then a over supply of around 40M BPD would hone into view. 10-15M cut in production, how long before the taps need turning off.

Don't get me wrong, IMO BP are resilient and will ride through this utilising "cost cutting" and cash reserves but I don't see the divi being confirmed at the end of the month and, with a decimated revenue gap.....

What's your view, and why.

Keep safe

Perhaps, in light of the biggest demand cut in recent history, actually happening, IMO BP will see a drop to around mid 2's until out of current "demand issues".

Lots of UP in the share but when to jump??????????

Interesting. Lets look at he worlds average consumption at this time of year which is around 60M BPD and then factor in current reduction in demand to around 25M BPD and they're going to curb their supply by 10M BPD - Do the math and work out when the taps need to be turned off in the short term and who will the win the race to fill the worlds reserves before the big switch off. Am I over thinking this or ……...

BB,

What's your thinking behind this considering the surrounding data on storage, demand, etc.

I may be losing the plot!

Shaz, My new friend,

I can honestly say that I am not a guru on BP and apologise for my frustration reflected in my earlier post. I have been invested in oil, banks and pharms for about 25 years so have a little experience, but nowhere enough to slam you down - which I had a go a BY earlier this week for on Zeus.

I feel bad if I have hurt your feelings - this was truly not my intention. I was getting toward melting point when people were reiterating the same thing, IMO, and you were the last one - so, sorry again.

I do not wish to push you from the board, far from it, and did not intend to belittle your comments (although, my comments dictate otherwise, I appreciate - my stupidity).

All I wanted was to look at the facts inline with the history and when the volume of response (which is what the board is for) came in, I had a bit of a wibble.

Once again, apologies, and I wish you all the best in your investing ventures.

Best of Luck & Keep Safe.

AKA

Cheapskater,

A man with a view that can see a bigger picture than the share price - very refreshing at the moment.

Hope all OK and best of luck for Tuesday - "fill your boots".

Take care and keep safe

Shaz,

About three days ago, you said your were bowing down from this board as it was beneath you - FFS, you've been here like a rash for the last three days posting "reiteration", "hearsay" or "state the f**king obvious".

I don't mean to be harsh but we need to get some depth back to the board and not just "tittle tattle".

To all. I genuinely hope you are all keeping well and hopefully making a decent margin - but mainly the former.

GLA

Where's your info coming from - if it twitter, I can set up an account stating that I'm a Saudi Oil Minister and say we have a deal, however, read the RNS, look at the main news feeds, there not reporting, just speculating. STOP until you have the facts - you're not helping.....

Do we not need to look at the what the majority of OPEC members are trying to achieve; their economies are heavily reliant on oil, I believe Saudi to be around 80% so a huge influence on their GDP and home economies.

IMO, the Saudis should have published there May PPB but held back due to this "meeting". Think about it, there are three boxes to fill in the Saudi exchequer account for May onwards, PPB, volume and revenue - the revenue box cant really change that much inline with expenditure (realise economies are flexing), therefore, it's production and price. Cant see the price going up significantly anytime soon which then leads to the final point - how are they going agree to a reduction with no descent increase in price on the cards to balance the books.

So tomorrows alleged meeting, if it goes ahead, - what will it bring???

Best of luck all and keep safe.

In contrast (one would like to keep a balanced view), Fitch are looking at the ratings of Oman with its ropey GDP now oil prices are down. Could this tip the balance in the sandy states?

Tune in the next 30 seconds for the latest in "OIL"

Keep the humour