Q: big drop today, reaction to budget for 2025, oil prices or combination?
Just like to get your thoughts
Just like to get your thoughts
5i Research Answer:
Oil is down, which doesn't help. The budget shows a slight decline in production from year end exit rates, so investors may be worried that all the spending ($1.2B) is not going to boost actual average production rates. BTE also updated its five-year plan, which looks OK to us with a planned reduction in debt. But the sector remains out of favour overall right now.