Member Info for Larry_Livingston

Hi Nomad1 yes please:-)

Hi Nomad1 you are correct, I saw the following article on Bp news tab.

BP CEO Bernard Looney steps down:-

https://www.lse.co.uk/news/BP./bp-ceo-bernard-looney-steps-down-7dgbwv8rb2ngsrw.html

And It looks like the current CFO will be the interim CEO in the meantime until the a new CEO is chosen.

Https://www.reuters.com/business/energy/bp-ceo-bernard-looney-resign-ft-2023-09-12/

Https://uk.investing.com/news/commodities-news/oil-hits-90-on-saudi-russia-maneuver-trade-awaits-next-demand-move-3144659

Https://www.marketwatch.com/story/oil-trades-at-2023-highs-are-u-s-prices-headed-for-100-523bf9fa?rss=1&siteid=rss

Https://uk.investing.com/news/commodities-news/oil-prices-mixed-on-receding-support-from-chinas-steps-to-revive-economy-3143350

Hi Ggp, personally I would say no I wouldn’t want the Sp to go up at any price because I’m more of a consumer who would be impacted more by high inflation scenario (let alone in a hyperinflation situation) than what I would make on a profit, unlike a billionaire investor who would make millions. So I just want to make a decent profit in a normal situation.

Also remember this time in 2021 the Oil & Sp were going up from the pandemic Low, in the hope that life and the supply/demand dynamics will go back to normal to Pre Covid level.

Hi Ggp I just saw this and thought you might like the article and it looks like you are spot on about Putin’s plans you mentioned on Wednesday, they announced this on Thursday! :-)

Russia To Divulge OPEC+ Deal Parameters Next Week

https://oilprice.com/Latest-Energy-News/World-News/Russia-To-Divulge-OPEC-Deal-Parameters-Next-Week.html

Https://www.cnbc.com/2023/08/03/oil-rises-as-markets-weigh-inventory-data-us-ratings-downgrade.html

Https://uk.investing.com/analysis/commodities-week-ahead-after-july-opec-will-fight-to-keep-oil-up-200585551

Https://uk.investing.com/news/commodities-news/analysisoil-inventory-drops-set-stage-for-higher-prices-3102290

Https://uk.investing.com/news/commodities-news/energy--precious-metals--weekly-review-and-outlook-3102060

Nomad I know I won’t be complaining either, we can only dream a price of 30s so let’s send some good thoughts :-)

From the news tab above

Https://www.energyportal.eu/news/bank-of-america-says-europes-oil-majors-are-close-to-bottoming-out-and-names-its-top-pick-ahead-of-earnings/88363/

Let’s see what the future holds!

Https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Sees-Oil-Prices-Rising-On-Record-Demand.html

Https://www.forexlive.com/news/iea-says-it-expects-global-oil-mrakets-to-tighten-in-h2-of-2023-20230723/

Https://uk.investing.com/news/commodities-news/energy--precious-metals--weekly-review-and-outlook-3092311

Https://www.cnbc.com/2023/07/22/oil-markets-to-face-serious-problems-as-demand-rises-ief.html

Hi Ggp, my thoughts exactly after seeing the article you posted yesterday.

And to your question of the slower pace in production, the article quotes 2 reasons.

1 - Both parties (OPEC+ & US Oil industry) are making massive profits at the current prices and they wouldn’t want another Oil price war again between them like in 2014-2016.

2 - US Oil industry don’t give Biden the credit of bringing down inflation since they him against them.