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A very good morning everyone,
All late on parade this morning. Oil still holding just a whisker off $80.
It appears that United States will shortly become self sufficient in oil and a nett exporter. So what are the likely ramifications for mid East, especially saudi arabia one wonders will ysa be so keen to provide military protection when they have no need for their oil. Will Russia step in to the role Putin and MBS have become very cosy of late. Interesting times ahead.
Good morning Moniman and everyone.,
I do accept that any reduction in oil price will impact positively on inflation rates and yes mortgage rates also, and I'm mindful of all young people who entered the housing market last year and may not face horrible increase in mortgage payments due to rate rises, however, I do not see oil at 55 or 60 dollars anytime soon because opec simply won't facilitate that. Oil is back touching $80 this morning and in my humble opinion its going to stay in that price zone for foreseeable future. US now think they may not have a deep recession which is positive news. China troubles me with their lack of transparency on covid data but they are opening up their economy so demand for oil will remain high in near term.
Good morning J1979, and everyone.
Bp was making a good profit with oil at $60 and covered our dividend and capex. Brent is holding well north of $80 and its difficult to see it moving substantially lower in the medium term. Let's stay positive and look forward to excellent results fir Q4 and full year. Have a good day everyone
Y11, I'm very well aware what happens to the sp when dividends are paid out. Your argument is flawed in my humble opinion because you have confused dividends with shareholding in rosneft. The basis of your argument which you have used as set out in the reply to Clued refers only to dividends and bp have stated that they will not accept any dividends earned post the commencement of the war. The 19.75% bp holding in rosneft, (our holding as shareholders) is entirely different and is not impacted by that bp board decision.
Meoryou, I think you hit the nail on the head... We need to see the figures for all the green investments made, and nothing short of complete reinstatement of our dividend, together with a special dividend to return value to shareholders upon disposal of rosneft