MARKET REPORT: BP rises as boss vows to protect its 6% dividend while predicting oil price will stay around $53 over the year to come
BP shares were given a boost as the firm's chief executive promised to defend the dividend.
Bob Dudley revealed that he thought the global oil market was 'pretty much in balance'. His comments came after a week of oil price rises.
The black stuff finished yesterday 3 per cent higher at $53.50 a barrel. Dudley thinks it will stay around $53 over the year to come.
The oil price crashed last year as a burgeoning US shale gas industry and a weak global economy curtailed demand.
The producing nations did little to help the situation, refusing to stem the flow, which led to a glut of supply and... read more
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