0pec Producers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

let's get down to business. we start with bp, as it's 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 let's 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 instigated a huge share buy—back programme. last week, its rival shell reported second quarter pro...

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 global economies have recovered from covid, they are running out of spare capacity now. we have asses...