Time to get involved?
Premier Oil Nov-Dec crude production exceeded forecasts.
- The chart shows Premier Oil share price movements since mid-March.
- The current share price is 67p (at time of writing).
- Shares -55% from 2018 highs; +2.1% from 2018 lows; -12.2% year-to-date
- Premier Oil reported that Nov-Dec oil production exceeded forecasts.
- Nov-Dec production averaged 92K barrels of oil equivalent per day.
- Achieved a record daily production of 98.7K on 4 Dec.
- Oil company remains on track to meet its full-year 80K production guidance.
- Will the strong production update help the shares regain positive momentum?
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal, CMC Markets
Trading Premier Oil – An Example
Let’s say you think that Premier Oil is likely to rise as a result of this news. You decide to buy exposure to £10,000 worth of Premier Oil using a CFD, at the current price of 67p. To do this, you need £2,000.
For the purpose of this example, let’s assume the Premier Oil share price rises by 5% following the news. Your profit would be £500, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. Premier Oil shares fall back 3% and hits your stop-loss. Your loss would be £300
This is provided for information purposes only. It should not be taken as a recommendation.