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Why is BPT underperforming the oil price?

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Question asked

Why is BPT underperforming the oil price?

Why is BPT share price so weak consider the strength of oil prices?

Answer

Hi Jimmy,

I don’t believe BPT is behaving too badly, its  dropped 19% at its worst while crude oil has pulled back 12.5%, overall a correlation that’s to be expected for this relatively high Beta play – even Woodside Energy (WDS) has fallen almost 16%.

MM is not ready yet to re-enter the space as we can see another 8-10% downside for oil but it is now on our radar.

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Beach Energy (BPT)
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