Ann: Beach Energy Ltd FY23 Full Year Results, page-24

Fingers crossed we finally get a good news story in relation to exploration, it could finally get a solid rocket up this share price and be the catalyst for a major return in confidence that we have been waiting for. Right now oil prices are working in our favour again. I have read a lot of articles lately that with the BRICS expansion, Africa moving towards BRICS etc that OPEC are going to have even more influence on global oil prices to force them up and force further inflationary pressures on the 'enemies' of the west.

USA has lost control of oil prices due to poor geopolitical decisions and bad domestic decisions in recent years. Their strategic reserve is at an all time low and the ban on certain exploration and pipelines in recent years has affected domestic supply. Plus, the natural disasters having an impact in the southern US states too. There is even talk of them reducing sanctions on Venezuela to try to get supply from there. The USA will be doing all they can to get oil prices down before the 2024 elections, but it looks like they have already played most of the cards they can. $100 oil prices are not far away imo because OPEC will keep cutting supply every meeting for the short to medium term. Even with all the China doom and gloom and many countries in the EU officially entering recessions it is still almost $90usd now. Imagine if some good news out of China arrives in relation to stimulus...