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BP Is Still A Solid Investment With Brent Below $70

Shares of BP (NYSE:BP) have not done well over the past year. A combination of Russian tensions, lower crude prices, and an adverse ruling over BP's violation of the Federal Clean Water Act has weighed on BP's stock.

Recently OPEC's decision to maintain crude production at 30 million barrels a day has sent Brent trading below $70, prompting even more selling of BP stock.

I don't think there is any reason to worry.

Much like ExxonMobil and Chevron, much of BP's portfolio are decade long investments that should do well in a broad range of crude prices.

BP, for example, reported positive profits and positive free cash flow in 2008 and 2009, when crude prices traded at one point around $35 per barrel.

Seeking Alpha
Published on:
December 8, 2014
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