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Not really. Tomorrow it's coming down to 14 again. Please see what's happening in New York stock exchange.
I am 100% confident that BP will not cut dividend any more until and unless oil price crash to below $30/barrel again. BP's current break even plan is $35/ barrel. Oil is above $40/barrel for the whole 3rd quarter.
Also those who are blaming Looney for the tumbling of share price - I don't think he is the main reason to drop the share price. Due to current uncertainties all oil majors share price are at the bottom level. Please have a look Shell, Exxon, Chevron etc. All are very bottom level as BP.
As long as BP keeps the current dividend we shouldn't be worried to much. We strongly believe that this covid 19 pandemic will not stay forever. Life and economy will eventually come back normal. It's just matter of time. Either by next year summer or the following year!! When this pandemic is over then I strongly believe BP sp should be heading to 400. Now we just need very very strong patience.
https://www.ft.com/content/e1d53208-b460-4708-a89c-d8b418cceffb
It seems the bottom has reached.
Tech bubbles are already started to burst in DOWS. Nobody thought that it will start to burst do quickly. Tesla is million times overvalued now.
Oil is solid. The world can't move without oil a single step. I am sure that as soon as covid 19 pandemic start to get normalise then BP, Shell stock will fly and will reach to its pre pandemic position. It's just matter of time.