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Prices & Quotes - UK Markets - BP (BP.)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 302.95p
Change Today:
-0.55p
Market Cap:
61,660m
Sector:
Oil & Gas Producers

Citi revises 2021 oil price forecasts higher

By Alexander Bueso

Date: Thursday 11 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Citi revised their projections for the price of oil, citing oil producers' success in running down global inventories and improved prospects for demand.
The broker's analysts increased their forecast for oil prices in 2021 by $5 per barrel to $64.

Their 6-12 month "point" forecasts for Brent and West Texas Intermediate meanwhile were raised to $70 and $68, respectively.

Key to the improved prospects for prices was the Organisation for Petroleum Exporting Countries' disciplined observance of its own supply targets and Saudi Arabia's decision to cut output by 1.0m barrels a day through March.

That, they said, had "accelerated the erosion of record inventories, pointing to an earlier re-balancing [of global supply and demand]."

Strengthening backwardation in physical markets refelected "tighter fundamentals" and would further encourage financial flows to crude oil.

Neither was financial positioning overstretched to the long side, instead to them it looked "neutral", which pointed to more upside for oil prices.

"As opposed to getting "ahead of itself," the market looks as though it is accurately anticipating constructive demand and supply conditions well into, if not through, 2021. Meanwhile, there is significant disruption risk further to price upside."

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BP Market Data

Currency UK Pounds
Price 302.95p
Change Today -0.55p
52 Week High 365.75p
52 Week Low 193.44p
Volume 40,490,565
Shares Issued 20,353m
Market Cap 61,660m
Beta 0.05

Performance Indicators

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What The Brokers Say

Strong Buy 13
Buy 3
Neutral 10
Sell 3
Strong Sell 1
Total 30
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BP Dividends

  Latest Previous
  Q4 Q3
Ex-Div 18-Feb-21 05-Nov-20
Paid 26-Mar-21 18-Dec-20
Amount 5.25¢ 5.25¢

Trades for 16-Apr-2021

Time Volume / Share Price
16:37 2,353 @ 302.95p
16:37 30,000 @ 302.95p
16:37 535 @ 302.95p
16:37 29,465 @ 302.95p
16:37 20,535 @ 302.95p

BP Key Personnel

Chair Helge Lund
CFO Murray Auchincloss