BP CEO Says Oil Price 'Off the Fairway' for Global Health

The transcript discusses the impact of Gulf storms on oil production, market volatility, and potential oil price changes. It explores the effects of Iran sanctions and geopolitical factors on global oil supply. BP's financial strategy, including debt reduction and asset management, is highlighted amidst high oil prices. The discussion also covers BP's acquisition of BHP assets and the implications for its portfolio.

What percentage of Gulf of Mexico oil production was reported to be down due to the storm?

• 50%

• 20%

• 30%

• 40%

What is the main reason for the current volatility in oil prices according to the discussion?

• Natural disasters

• Technological advancements

• Increased demand

• Geopolitical tensions

What is the expected range for oil prices in the short term according to the discussion?

• $80 to $100

• $50 to $70

• $60 to $80

• $70 to $90

What is BP's priority with the current oil prices at $85 a barrel?

• Expanding into new markets

• Developing new technologies

• Cutting debt

• Increase production

Which country is mentioned as having a significant challenge due to high oil prices in rupees?

• China

• India

• Brazil

• South Africa

How much crude oil could potentially be lost from the market due to Iranian sanctions?

• 1 million barrels a day

• 500,000 barrels a day

• 2 million barrels a day

• 3 million barrels a day

What is the main focus of BP's acquisition strategy as discussed?

• Entering new markets

• High grading the portfolio

• Expanding renewable energy

• Increasing production capacity