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Press Release (Dax-Light press release 11 October 2016 What could the oil price rally mean for UK investors? Yesterday Brent crude hit its highest level of 2016, rallying after Russian declared it was now prepared to join major oil producing nations in OPEC by capping production. Ian Forrest, investment research analyst at The Share Centre, explains what this latest news could mean for investors. “The oil price received a shot in the arm yesterday after Russia’s president, Vladimir Putin, said his country would participate in the freeze on oil production by OPEC. The cartel agreed a cap on output at the end of September and the oil price has risen steadily since then, adding a further 3% yesterday to take it to its highest level since October last year. “OPEC may put quotas in place when it meets next month but there is uncertainty around what level of production Iran will agree to. Given that shale oil has made the US, which is not a member of OPEC, the world’s largest oil producer, the ability of the cartel to control global prices is not as strong as it once was. “All of this is relatively encouraging for investors in the sector, but the rise must be sustained to have any meaningful impact. Our preferred stocks remain the two major integrated groups, Royal Dutch Shell and BP, which continue to pay attractive dividends and are suitable for investors seeking a lower/medium risk approach. The rise in the oil price reduces the chances of those two companies cutting dividend payments, but it needs to remain above $60 to provide more certainty of that.” ---Ends--- Note to editors: For further information please contact: The Share Centre Joe Dumont Sophie Hobart Isobel Shea Head of Corporate Comms PR Executive Corporate Communications Coordinator 01296 439 426 01296 439 129 01296 439 435 [email protected] [email protected] [email protected] Teamspirit PR Adam Smith Kate Cunningham Associate Director Senior Account Manager 020 7360 7816 020 7864 4138 [email protected] [email protected] Leanne Tsang Rosie Ward Account Manager Account Executive 020 7864 7856 020 78614143 [email protected] [email protected] To view all our press releases and more from our investment advisers please go to blog.share.com 2016 Best Stockbroker – Online Personal Wealth Awards Best Customer Service – Online Personal Wealth Awards Best for Fund/Stock Pickers – The Lang Cat Direct Platform Awards Best Online Stockbroker - ADVFN International Financial Awards 2015 Best Customer Service – Shares Magazine Best Online Stockbroker – Personal Finance Awards Highest Overall Client Satisfaction award - Investment Trends Best Customer Service – Investment Trends Best Customer Service – Online Personal Wealth Awards Best Stockbroker – Online Personal Wealth Awards Self Select ISA Provider of the Year - ADVFN International Financial Awards Best Online Stockbroker - ADVFN International Financial Awards 2014 Best Stockbroker for Customer Service – Financial Times and Investors Chronicle Best Online Stockbroker – Personal Finance Awards Best ISA Provider – Shares Magazine Highest Overall Client Satisfaction award - Investment Trends Best Customer Service – Investment Trends Best Stockbroker – MoneyAM Best Customer Service - MoneyAM 2013 Online Stockbroker of the Year - Financial Times and Investors Chronicle Execution-only Stockbroker of the Year – Financial Times and Investors Chronicle Best Online Stockbroker – Personal Finance Awards Risk Warnings: Investing in general, and the products and services mentioned above may not be suitable for all: if in doubt, individuals should seek independent financial advice. The value of investments and the income from them can go down as well as up and investors may not get back their original investment. Past performance is not a reliable indicator of future performance. The bases and levels of taxation relating to ISAs, CTFs and SIPPs are subject to change and the value of these tax allowances may depend upon the circumstances of the individual. About The Share Centre: The Share Centre was established in 1990 to provide value-for-money share services for private investors. Its range of services includes buying and selling shares (by Internet, telephone and post) and a comprehensive share administration and safe custody service. Tax-efficient investment ‘wrappers’ including ISAs, CTFs and SIPPs are also available. The Share Centre’s Advice team provides comment on market sectors, individual shares and funds on www.share.com. Access is available to customers and registered users of the site. Registration is free. To understand how our Advice team arrive at their views please read our Investment Research Policy. The Share Centre blog is also available at http://blog.share.com. In addition, account customers can receive individual telephone advice on UK-listed shares. The Share Centre Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority under reference 146768. Registered in England No. 2461949. Registered office: Oxford House, Oxford Road, Aylesbury, Bucks. HP21 8SZ. .
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