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BP (BP) Share Price London Stock Exchange October 26

Crude Oil Falls As Supply Outstrips Demand

Outlook good for BP according to the numbers, where last week shares grew and overall 2.44% climbing from a week-low of 420.35 up to a week-high of 432.85. While not as highly valued as it was in late-June of this year, BP shares are on their way up from the 52-week low seen in mi-October.

Lower profits are expected for energy companies in the coming months as a result of weaker oil prices, which could hurt BP’s Q3 earnings reports. However, companies like BP which also possess refining operations could make up that loss as the refining process becomes cheaper with lower oil prices.

According to many analysts and brokers, now is the time to buy. While some sceptics advise a hold on buying and selling shares, few recommend a sell while several advocate a buy while stock value is at a near year-low.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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