0pec Producers News Today

lets get down to business. we start with bp, as its expected to reveal it made record profits in the second quarter. the rising price of oil has given the energy giant a significant boost. in fact bp chief executive, bernard looney, described the energy market last year as a cash machine. so lets take a look at its previous quarter, when bp made an operating profit of $8.2 billion. this, despite off—loading its nearly 20% stake in russian—controlled oil company rosneft. it also ins...

Carbon economy, but i think the real investment story here and the real concern and what is driving oil prices and these mega profits that you see is the action of the national oil companies and the major national producers like saudi arabia, the united arab emirates, the 0pec producers, they are going to meet this week. but the key thing here is with demand above 100 million barrels a day globally, spare capacity is pretty tight. these producers, they drip fed more oil back into the system as g...