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Premier Oil - OPEC cuts are a game changer

January 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

This could be the turning point for Premier Oil, with the shares spiking to a price of 68p on news that OPEC finally agreed to a 1.2m barrels a day cut in production, on the understanding non OPEC countries will cut by 0.6m barrels. This was the first cut since the depths of the financial crisis and with oil prices hitting highs of c. US$54 a barrel, it means Premier and the other TMI recommendations Tullow and Enquest can sell forward at prices that have recovered from troughs below US$30 / barrel, at a time when they are dramatically cutting their break even cost per barrel.Its update for the first ten months ended 31 October noted production averaged 69,000 boepd and is on track to meet previously increased full year guida ...

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Premier Oil - OPEC cuts are a game changer

January 2017

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