Member Info for Jakers

Wall Street seems to be forging ahead but no 'Biden bounce' for us sadly

I don't think the Baltimore ( and others) climate suit is helping either.

Well rjb, Burford was somewhat pessimistic in his projections for BP. However, his remarks are based in my judgement upon the historical performance of BP over the past 10 months or so, and as you can imagine, that is exactly what chartists do. Major world issues have macro economic impact, and that's exactly what Covid has done. His outlook was short term and misleading in my humble opinion because when the vaccination process gains ground we will see the world economies open up rapidly again and the demand for oil will climb pro-rata. I believe within a few months we will see a much better situation . Best of luck all.

Could we please moderate the tone of some (thankfully very few) of the posts on this board. Anyone with anything to post about BP can surely do so without resorting to insults about an individual or group

Muttongeoff., I fully understand your frustration, when you look back at the horrible bashing we took last year, starting around 6th March, and continued right up to about six weeks ago, the claw back that we have had, although very welcome and steps in the right direction, there's a very long way to go before we get back to where we were this time last year. I do believe however, that the worst is now behind us and I believe that this stock will forge onwards and upwards as the virus comes under control as the immunization progresses. Best of luck

BP seems vastly undervalued even after the recent rally. Only last June/July if my memory serves, they wrote down their asset value by 17.5BN$ because Brent crude was at 38$/barrel. Things have moved on from that point and oil is now roughly 18$ a barrel dearer. this values the oil still in the ground much higher than when they wrote down the asset value and therefore we should see some positive correction in the end of year results. This is not a time to sell this stock unless you have to.GLA

Who will get whacked first... North Korea or Iran. It will be an interesting baptism of fire for President Biden

Well Hedgehog looks like were lining up for another assault on 300 now

very interesting read Happy....

We seem to be playing "Whackamole" every time it pokes its head above 298 its knocked back.

Does anybody think the Biden administration will clamp down on oil production in US. (Inventory for week ending 1st Jan indicated 485 MB which based on 2019 consumption equates to only 24 days demand)

UBS raised forecast for Brent to $60 by mid 2021

Tehran seem determined to poke the sleeping bear with a big stick, presumably they think US will not take any action while in the midst of transition of power. This could easily become a very major issue with potential for huge increase in oil price

I cant see much improvement in the short term unfortunately, until the Covid vaccination process is more advanced, as this is a stranglehold on fuel demand. However, in three to four months time I really can see a major upward movement in the SP. We just need to sit tight and get through the next quarter GLA.

lets us not dwell on the abysmal performance of 2020 and all look forward to a much better 2021.
"A Very Happy New Year" to all on this board

Why do you think that TMU ?

I don't think drilling a 5000 + metre deep dry well has helped us this morning.

I absolutely think they will delay any announcement till after market closes.
Seasons Greetings to all

1) The $900bn Covid relief package approved by congress
2) UK have apparently offered a compromise on the impasse over brexit fishing quotas
3) Its Christmas

Fracking companies are consolidating now in the US and we would be exposed to any more regulation as we have major investment in fracking in America, having bought BHP assets, wrongly in my view.