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Elsewhere, commodities stocks appealed, with Glencore PLC (LSE:GLEN), BP PLC (LSE:BP.), Shell PLC (LSE:SHEL, NYSE:SHEL), Rio Tinto PLC (LSE:RIO) and Angus Energy PLC (AIM:ANGS).

Aircraft engineer maker Rolls Royce Holdings PLC continues to be well-liked on its hoped-for pandemic recovery prospects, having been top of the pops in August and in the ii top ten for most of the past two and a half years.

Tesla was the most popular stock by value for AJ Bell investors., followed by Lloyds, Glencore, L&G, Barclays PLC (LSE:BARC) and GSK PLC (LSE:GSK, NYSE:GSK).

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Lloyds Banking Group PLC (LSE:LLOY), Legal & General Group PLC (LSE:LGEN) and Tesla Inc (NASDAQ:TSLA) were top investments for UK retail investors in the past month, while in the world of funds passive far outranked actively managed funds.

September, in fact, saw only one actively managed open-ended funds in the top ten of the UK’s second largest investment platforms, for the first time ever.

Terry Smith’s £22bn Fundsmith Equity was the most-bought fund in September on the Interactive Investor platform, with the rest being a mix of exchange-traded funds.

It is likely to reflect caution over not knowing what active funds are best placed to invest in at a time of great uncertainty, said ii, having seen evidence of this in previous periods of volatility.

In investment trusts, investors also looked to scoop up potential bargains in the alternative assets space, with big discounts attracting buyers to Tritax Big Box REIT PLC (LSE:BBOX) and Chrysalis Investment Trust PLC.

This marked something of a change in emphasis for investors, with the appeal of bargains luring investors out of their shell, after capital preservation focussed trusts tended to dominate in previous.

In alternative assets, Greencoat UK Wind PLC (LSE:UKW) was in the top ten of all three of the largest retail investor platforms for the month, Hargreaves Lansdown, ii and AJ Bell's Youinvest.

As usual, Scottish Mortgage Investment Trust PLC (LSE:SMT) topped ii's and AJ Bell's investment trust tables, followed by Monks Investment Trust PLC (LSE:MNKS), City of London Investment Trust (LSE:CTY) PLC and Witan Investment Trust plc (LSE:WTAN).

City Of London, Edinburgh Worldwide Investment Trust and F&C Investment Trust PLC (LSE:FCIT), newly back in the FTSE 100, were top of the Hargreaves trust list.

For pure equities, Lloyds shares were the most popular for ii, which is owned by Abrdn PLC (LSE:ABDN) the second biggest UK investment platform for private investors and SIPP pensions, and with AJ Bell. As well as being the most-bought, it was also the most-sold share on the AJ Bell platform.

L&G, as the share price plunged in the last few days of the month in the aftermath of the misfiring ‘mini budget’ and concerns around pensions and LDIs, presumably gained popularity among bargain hunters on both platforms, where it was in second place.

“Severe disruption to the UK gilts market cast a shadow over its sizeable pension operations, leaving the shares down around 14% over the month (...) that added to the attraction of a now more than 8% historic and estimated future dividend yield,” said ii analyst Keith Bowman.

Bargain hunting was also apparent in the popularity of Cineworld Group PLC (LSE:CINE) and housebuilders Barratt Developments PLC (LSE:BDEV) and Persimmon, after fears of potential 10-15% house price falls as rising interest rates drive up mortgage rates.

Elsewhere, commodities stocks appealed, with Glencore PLC (LSE:GLEN), BP PLC (LSE:BP.), Shell P

:)))))))))

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https://oilprice.com/Latest-Energy-News/World-News/Czechs-Propose-60-Tax-On-Excess-Energy-Profits.html
We have a 30 billion loss ( Rosneft)
Plus the monies still being paid for Deepwater Horizon disaster
To put against any windfall tax

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Tomorrow :)))))

:))))

6th Oct-22 Barclays Overweight 700.00 700.00 Reiteration

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Oops

Oil prices will rise again to $100 per barrel faster than previously estimated, Morgan Stanley said on Thursday, lifting its price forecast for the first quarter of 2023 to $100 from $95 per barrel.

“Brent will find its way to $100 per barrel quicker than we estimated before,” the investment bank said in a note carried by Reuters after OPEC+ decided on Wednesday to make the largest nominal cut to its oil production quota since 2020.

OPEC+ agreed on a 2-million-bpd cut from November, but the actual reduction in supply from the alliance is estimated at around 1 million bpd-1.1 million bpd, considering that many producers haven’t pumped to quotas for months because of a lack of capacity and/or investment, or – in Russia’s case – because of sanctions. Most of the actual cuts will come from Saudi Arabia and other Gulf producers.

Morgan Stanley sees the deficit on the oil market swelling to 900,000 bpd next year, up from the 200,000 bpd deficit previously expected.

“Those forecasts assume that Russia’s oil production will fall by 1-1.5 million bpd after the EU oil import embargo comes into force,” Morgan Stanley’s strategists said.

Other banks also reacted to the OPEC+ cut with increased oil price forecasts. Goldman Sachs, for example, raised its Brent Crude forecast for this quarter by $10 to $110 per barrel.

“All the developments we have seen on the supply side at this point very much sets the stage for what we believe will be higher prices into the end of this year,” Damien Courvalin, head of energy research at Goldman Sachs, told Bloomberg TV.

“Given the large supply cut recently announced by OPEC+, the global market will likely be in deficit through the whole of 2023, suggesting that there is upside to our current forecasts,” Warren Patterson, Head of Commodities Strategy at ING, said on Thursday. The bank currently sees Brent trading largely within the $90 area for the remainder of this year and into the first half of 2023 before strengthening over the second half of 2023.

Oil prices will rise again to $100 per barrel faster than previously estimated, Morgan Stanley said on Thursday, lifting its price forecast for the first quarter of 2023 to $100 from $95 per barrel.

“Brent will find its way to $100 per barrel quicker than we estimated before,” the investment bank said in a note carried by Reuters after OPEC+ decided on Wednesday to make the largest nominal cut to its oil production quota since 2020.

OPEC+ agreed on a 2-million-bpd cut from November, but the actual reduction in supply from the alliance is estimated at around 1 million bpd-1.1 million bpd, considering that many producers haven’t pumped to quotas for months because of a lack of capacity and/or investment, or – in Russia’s case – because of sanctions. Most of the actual cuts will come from Saudi Arabia and other Gulf producers.

Morgan Stanley sees the deficit on the oil market swelling to 900,000 bpd next year, up from the 200,000 bpd deficit previously expected.

“Those forecasts assume that Russia’s oil production will fall by 1-1.5 million bpd after the EU oil import embargo comes into force,” Morgan Stanley’s strategists said.

Other banks also reacted to the OPEC+ cut with increased oil price forecasts. Goldman Sachs, for example, raised its Brent Crude forecast for this quarter by $10 to $110 per barrel.

“All the developments we have seen on the supply side at this point very much sets the stage for what we believe will be higher prices into the end of this year,” Damien Courvalin, head of energy research at Goldman Sachs, told Bloomberg TV.

“Given the large supply cut recently announced by OPEC+, the global market will likely be in deficit through the whole of 2023, suggesting that there is upside to our current forecasts,” Warren Patterson, Head of Commodities Strategy at ING, said on Thursday. The bank currently sees Brent trading largely within the $90 area for the remainder of this year and into the first half of 2023 before strengthening over the second half of 2023.

CAPE TOWN, Oct 6 (Reuters) - Angola will launch its 2023 bidding round for 12 onshore oil and gas blocks in the Lower Congo and Kwanza Basin early next year, a senior official at the National Agency for Petroleum, Gas and Biofuels (ANPG) said on Thursday.

Africa's second-largest oil producer behind Nigeria did not hold any oil and gas auctions this year, partly because of presidential elections.

The next auction is part of the country's 2019-2025 exploration strategy, seeking to boost dwindling output and maintain base production above 1 million barrels per day (bpd) until 2040.

"We are looking at the first quarter of 2023 to launch," ANPG board member Natacha Massano told Reuters on the sideline of an African oil conference in Cape Town.

Angola, a member of the Organization of the Petroleum Exporting Countries (OPEC), is producing about 1.2 million bpd currently.

Oil companies operating in Angola include TotalEnergies , BP, Exxon Mobil and Chevron.

Angola aims to award up to 50 oil and gas blocks by 2025, with blocks located onshore as well as ultra-deep and deep waters. (Reporting by Wendell Roelf Editing by Bhargav Acharya and David Goodman)

After OPEC+ yesterday agreed to cut production by 2 million bpd, oil prices rose but in a much more limited way than many would’ve predicted as it remained to be seen how much of the cut would be physical and what the U.S. would do in response to the move.

“The market wasn’t thrilled since the actual cuts would be half what the headline number suggests,” Velandera Energy Partners CFO Manish Raj told Market Watch.

Goldman Sachs went further, estimating the actual production cuts at half a million barrels daily because of the gap between targets and output.

Indeed, OPEC+ has been undershooting its own production targets for months, with the August figure at over 3 million barrels daily. This led some analysts to suggest that the production cut agreed at this meeting would be more of an attempt to move targets closer to actual production than anything else.

Until it becomes clear whether OPEC+ will be cutting actual production or moving targets, the price rally forecast ahead of the meeting in Vienna on Wednesday will probably wait.

Regarding the reaction of the United States, there has been a signal from President Biden that the likely response would be to release yet more crude from the strategic petroleum reserve. The Biden administration needs low fuel prices and it needs them now and over the next month until the midterm elections.

Despite the lack of details about the implementation of the production cut, Goldman raised its oil price target to $110 per barrel of Brent for the final quarter of the year. JP Morgan also suggested Brent could rebound to $100 in the current quarter, following OPEC+’s move to cut.

Meanwhile, headwinds remain, the strongest among them being the fear of a global economic slowdown, with recessions expected for some of the world’s biggest economies such as Germany. These headwinds are likely to put a cap on any price rises unless supply shrinks significantly

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Brent 93.70$

31.38 USD +0.080 (0.26%)