Repsol shoots up 6.8% and leads the rises of the Ibex one day after leading the falls (-2.8%)

MADRID, 22 Nov.

Repsol shoots up 6.8% and leads the rises of the Ibex one day after leading the falls (-2.8%)


Repsol titles shot up 6.83% at the end of the session, leading the rises of the Ibex 35 in the heat of the rise in crude oil, and just one day after leading the falls (-2.83%).

Specifically, the shares of the multi-energy company chaired by Antonio Brufau have closed the day at 14.32 euros, after being boosted by 6.83% after Saudi Arabia has rejected the information published this Monday in reference to an increase in supply oil from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia.

In this way, the price of a barrel of Brent crude oil, a reference for Europe, was quoted at 89.3 dollars, compared to 87.45 dollars at the close of yesterday.

The American newspaper 'The Wall Street Journal' had reported on Monday, citing unidentified cartel sources, that OPEC would discuss an increase in supply of half a million barrels a day at its December meeting, information that Saudi Arabia has hurried. to deny.

In October, the OPEC countries agreed to undertake a downward adjustment of 2 million barrels per day from November on with respect to the supply levels reached last August.

Repsol's shares have also been favored by the improvement in the recommendation of analysts such as Citi and RBC, as well as by the information that the company plans to allocate 40% of the investments planned for 2023 to the US, estimated at 4,000 million of euros.

The newspaper 'Expansión' publishes this Monday that the company plans to invest in a photovoltaic park in Texas, called the Outpost project, of more than 600 MW, which would be added to the Frye project, also in Texas and which adds another 600 MW. These projects would total 1,200 MW, with total investments of around 800 million euros.

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