European oil stocks rose sharply on Thursday, Oil company stocks amid increasing talk of a “peace agreement” to end the oil price war on global markets.
Companies: Royal Dutch Cell, BP, Total, Eni, and Equinor rose to the highest levels in nearly a month, with US President Donald Trump saying that Saudi Arabia and Russia will conclude an agreement within “a few days.” His comments came after telephone conversations with Russian President Vladimir Putin and Crown Prince Muhammad bin Salman.
Oil company stocks
The shares rose as follows: Shell (NYSE: RDC) by 8.2%, BP (LON: BP) by 7.4%, ENI by 5.7, and Total by 3.6%. The companies also received support from a research note from Goldman Sachs saying that the group of companies remains able to pay dividends this year, unlike most market companies. Goldman Sachs analysts say the group’s neutral price allows to cover capital expenditures and dividends if the price reaches $ 44 an ounce, after falling from $ 60 a barrel, the previous shock.
Heavy local indices listed on these companies’ shares also rose, as follows: FTSE 100 rose 0.5%, CAC 40 and Milan 40 index rose 0.4%. While the benchmark index, STOXX 600, increased by 0.3%.
Trump came back to remind the markets of the days he moved him to at the end of 2018 when one tweet was turning the market upside down. Trump says the two countries are plotting US oil, which has reached record levels of 5 million barrels per day of production in the coming years and has acquired the market share of both countries.
On Wednesday, two of the biggest producers saw this strThat produces more than 120,000 barrels per day in North Dakota, with leaves to activate Chapter 11 for bankruptcy protection. BP said it will cut expenditures in its United States shale oil companies by half this year, with a 14 percent drop in its unit production.
Trump will meet today with senior officials from oil companies on Friday, according to repeated statements from Scott Shepherd, strategy as successful, when Whiting Petroleum,
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