Member Info for redbluerhino

Suppose low oil prices and covid-19 are already factored into the share price and investors are potentially anticipating a cut in production through an agreement between Saudi Arabia/Russia/USA.

Completely agree - you never know what's to come.

It's more about the market share the countries are exporting to rather than being self sufficient.

If a deal is done the share price will only go up, if there are negotiations and it is confirmed that no agreement has been reached then i agree the share price is likely to go down. Far from a lose lose situations.

Considering the oil price the share price is holding up around the 300 mark rather strongly. Can't see it falling below the lows we've already seen earlier this month, would be surprised to see it sub 250.

Seems clear that the Russian's seek an OPEC+ deal that includes the USA. Not sure how likely that is to materialise but the fact that there is a desire to come to a deal in the first place is progress in itself.

Agree with you in principle but i don't believe the transition to renewable's will be quick enough for people's wealth to disappear 'very rapidly'.

Ok thanks for the response.

The BP share price shown from a simple google search shows 318.4, does anyone know where that comes from?

I usually follow via https://oilprice.com/.

It was 31+ about an hour ago, 30.75 as i post this.

On what basis? The share price has been around 250 even with the price per barrel of crude oil in the early 30's.