Member Info for MarkGo

Happy

Well done to you and the other traders who are not shy in shouting how great BP is for them for trading. The gift that keeps on giving. Congratulations.

For the rest of us BP continues to be a mongrel unable to move forward. Tons of positive news needed just to keep this flatliner from sinking and only an ounce of negative news for a 4% dip in one day.

310 WTF

Well done again.

Only temporary but still pathetic.

Hi all

In my opinion, here is what is really happening in regard to the Opec+ cartel disagreement.

The Saudis and the UAE will be negotiating hard behind closed doors and will reach agreement soon. I am 99.9% sure of this.

All sides have too much to lose in a free for all for supply and a race to the bottom for the price of oil in which all oil producers lose. The Russia v Saudi spat of 2020 demonstrated what can happen.

So cancelled Opec+ meetings, with no set date or time to resume is sensible and nothing to worry about. Setting a time and date for another meeting without a firm agreement in place would be foolhardy.

In commencing negotiations, the UAE will demand the unachievable, the Saudis will offer the unacceptable and in the end a compromise will be agreed, a meeting will be convened the less than required increase in oiil supply will not meet demands and the poo will continue to rise.

Onwards and upwards for BP

Good weekend all. Great result England.

Re Opec+ meeting Monday. I can't foresee UAE doing anything stupid on Monday that could affect the poo negatively.

The Opec+ cartel have already agree, in principle and including the UAE, the increase of 400,000pd until December, this being under market expectations of 500,000pd so all looks great there for a steadily rising price.

The issue of UAE's baseline seems only to be an issue if the current Opec+ policy of control, restriction of supply agreement, is extended from April 2022, when it is due to end, until the end of the 2022.

Other Opec members have had their baseline, for calculation of cuts / supply, adjusted since June 2020 so there is a precedent for this to be considered/ permitted.

My guess is that there will be either no agreement on the extention or the UAE baseline adjusted from April 2022 onwards.

Either option and the poo keeps moving northwards.

Good day all

MarkGo

Great weekend all. ( Off topic) COME ON ENGLAND

Android £3.28
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Rjb92 £3.30
Stockready £3.31
MarkGo £3.33
Cong £3.39
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NSS £3.45

Well said Fairy1, Newersellshell22 and wheremymoneygone.

Now let's make a positive end to the week, share price included.
GLA

Guys I have news for you?? tomorrow there’s another JMMC at 3pm vienna time and the opec plus meeting will be at 4:30pm #OOTT #opec

It looks like we are going to have to wait another day for the press release. Those poor oil ministers must be so tired after having to deal with TWO meetings today, bless them.

The opec plus meeting will be held tomorrow and to repeat this again there was no recommendation from the JMMC #OOTT #opec

Compound

That's correct. Just a leak but Bloomberg are normally on the right leak. We will see soon.

As good as could have been expected from the cartel.

Oil price supported, supply restricted and heading higher over the coming months.

https://www.bloomberg.com/news/articles/2021-07-01/opec-panel-recommends-gradual-oil-output-hikes-for-rest-of-year?s=03

Growth or income

In an ideal world both.

As the old saying goes " wanting to have your cake and eat it " ( although I have never understood why you would want a cake just to look at the fancy icing.)

There is a dividend policy in place, agreed not the most generous, that should be affordable for the next five years coupled with green investment, debt reduction and buy backs, a form of share holder return that has its pros and cons I also agree.

Cash today does have its appeal but if given the option of taxable cash today or long term share price growth with a floor on the dividend payments and a possibility of dividend increases in the future then my preference would be the later as I do not believe both options are achievable concurrently or advisable for the stability and viability of the company long term.

I sense it boils down to what is more important for each individual investor. Short term versus long term gains.

Jaffa cake today or Black Forest Gateau tomorrow.

Good day today so far.

GLA All the best.

MarkGo

BP ADR are BP shares available on the New York Stock Exchange. Each full UK BP share is worth six BP ADR shares.

So to compare share prices on both you have to divide the ADR share price by 6 and then convert from $ into £

Ie current adr price $26.41 ÷ 6 = $ 4.40 = £ 3.19

Hi Double

Up slightly on BP Close. BP adr converts to 318p but, hopefully, a good starting point tomorrow, however, with the Opec+ cartel meetings this may go either way tomorrow.

Thanks wheremymoneygone.

It's in both parties interests to reach agreement especially with the previous Saudi/Russia race to the bottom last year that crashed the price of oil.

I guess Russia will aggressively negotiate and demand a big increase in supply, Saudis will want constraint and in the end an acceptable amount of increase will be agreed by the Opec+ cartel that, with demand outstripping supply ,
will not stop oil heading North.

All the best

Just to add for those who may be unaware, Oilprice.com is a fantastic site to keep informed on all matters oil and energy.

All the best. MarkGo

It was only a matter of time before cracks appeared in Opec+ unified approach.

Today's Opec+ ministerial meeting, which takes place usually prior to the main meeting, has been rescheduled due to disagreement on opening the taps.

Interesting link below

https://oilprice.com/Latest-Energy-News/World-News/OPEC-Delays-Ministerial-Meeting-Amid-Differences.html

Compound

Thanks, sensible advice and respect to you.

Hi Smithy

Sometime the irrational, emotional, impatient Mark gets the better of me. Apologies all again for earlier stupidity.

Mark

mojo7865

Thank you for taking the time to post. You and your post makes perfect sense. Apologies to all for the rant(s)

Have a great day

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