BP….Just like life….20 Aug 2021 08:26
Well that certainly wasn’t the week we expected but as in life, we can’t see around the corners.
I have to say I’m personally very relaxed about the drop and actually think with the buy backs it’s a little positive long term….
The most important points to think about are that it was a global bump and not just BP related.
Our fundamentals are still fantastic, we continue in our transition journey everyday and we break even at 40$ a barrel so 65$ is a fantastic amount of free cash flow and profit.
Covid will be beaten but of course their will be set backs in the road and the Fed are just making noise as usual. Bottom line is if the Fed stop buying fewer bonds it’s because the economy is better which means lots of oil use….
One thing in our favour looking around the corner is that exploration has been massively reduced worldwide and at 100 million barrels of usage a day……Where will it all come from longer term….
BP still a fantastic investment in my opinion but it’s not a get rich scheme that for sure…Remember the old saying..”If you wouldn’t hold a share for 10 years, you shouldn’t hold for 10 mins….
Have a great day all, Be kind to one another……..
NSS