Citing oil demand and resultant higher prices, JPMorgan (NYSE:JPM) said they're maintaining their "Overweight" rating on BP Plc (NYSE:BP).
With the demand for oil surprising many, the higher prices from the demand is good news for BP and others in the industry.
Barclays (NYSE:BCS) also see oil prices rising, with oil companies benefiting from it, and those invested in them.
The IEA Monthly Oil Market report revealed the IEA has upwardly revised their oil demand numbers in the short term by about 110 thousand b/d to 1.73 m b/d.
Shares of BP fell slightly to $41.02, dropping $0.39, or 0.94 percent.
1 comment:
BP is about to launch its new BPCares website. In a heated discussion with the board, BP marketers insisted in giveback to the retail operators to offset the hardships the operaters are suffering because of the spill.
BP promised that they will be very aggressive in promoting its new BPCares website. The domains that BP now owns are:
BPCares.com
BPCares.net
BPCares.org
BPCares.info
BPCares.us
BPCares.biz
BP promised the marketers from the BPAMA that the website should be up soon after the upcoming convention.
Post a Comment