The price of BP shares challenges market tensions to the inches in the midst of finding the new gas

The price of the BP share on Friday, challenging concerns about the upcoming OPEC+ meeting, which may increase production. The Uptick was provided with the appointment of the former CEO of Devon Energy, David Hajar as a non -executive director. The date is seen as evidence of the company’s transformation from renewable energy investments to its traditional oil and gas business.

Another main development in the company’s basics is the penetration news in the Minto Field project. BP Trinidad and Eog Resources Trinidad (EOG) announced a discovery in its first gas well, which paves the way to move forward in the other seven wells. The joint project is 50/50 between the two companies to pump 250,000 barrels of the equivalent of oil per day.

On the other hand, the momentum created by the common acquisition offer by its competitors such as Shell, Chevron and Exagonobil has been dissipated since then, depriving the shares of the opposite winds that prompted it to 386p in the middle of this month. However, the greatest pressure on the BP share price is the rise in its net debts in the last quarter.

Also, employee participation plans continued to reduce the stock despite the presence of a resetting program worth $ 1.75 billion. The 18,000 employees of the company are registered in 46 countries in stock plans, which include the stock value plan and the BP plan. However, in the short term, the return of the collective tariff fears to pressure oil prices, and is likely to be subject to the BP price next week.

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BP price prediction

The momentum on the price of the BP share calls for more upward trend above the axis price at 357 pixels, and the momentum is preferred to stay in control over this level. The immediate resistance is likely to come in 362 pixels. However, the expanded control by buyers will show this barrier and possibly test 36P.

Instead, the collapse below 357 pixels will lead to control, with preliminary support that is likely to reach 351 pixels. It will break the strongest momentum to less than this level and nullify the bullish narration. In addition, the procedure is likely to be sent less for a 346p test in the extension.