BP Deputy CEO McKay Sees Oil Market Balancing This Year

The video discusses the impact of fluctuating oil prices on BP's cash flow and project viability, particularly in deep water developments. It explores the role of OPEC in influencing oil prices and the balance of supply and demand. The discussion also covers rising cash costs and inflationary pressures in the oil industry, with a focus on efficiency improvements and market trends, including the growth of shale and deepwater projects.

What impact does a forward curve below 50 have on BP's cash flow?

How does BP view the supply-demand fundamentals despite the current price drop?

What are the expected price ranges for oil over the next five years according to BP?

What actions would BP consider if oil prices were to sustainably drop below 45?

What is the expected effect on oil prices if OPEC does not cut production?

How does BP plan to manage cash costs in a $55 to $60 price environment?

What factors does BP believe will influence the growth of shale versus deepwater production?