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0 0.00190839694656478 0 -0.00381679389312982 0 -0.00648854961832067 0.00381679389312969 0.00381679389312969
Stock impact report

Support An Oil And Gas Industry In Trouble By Believing In Competition [Forbes]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Forbes
Petroleum, petrodollar and crude oil concept : Pump jack and a black barrel on US USD dollar notes,... [+]depicts the money received or earned from sales after investment in the development of oil industry.GettyBy Mark FinleyBetween losing demand from COVID-19 and a price war between Saudi Arabia and Russia, oil prices have collapsed, down by roughly two-thirds since January.  With much of the transport system shutting down, the loss of global demand has been unprecedented. Some analysts believe we could be looking at a short-term loss of 20 million barrels per day or more, a drop of 20% within a few short weeks.On the supply side, after failing to agree on new production cuts in early March, Saudi Arabia, Russia, and a few other members of the OPEC+ group are planning to raise output by about 3 million barrels per day.  The result has been a massively oversupplied industry, with refineries starting to shut down due to lack of demand and storage tanks rapidly filling.American oil and Show less Read more
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