Insights

September is not being kind to the Woodside (ASX:WPL) share price

What’s been weighing on Woodside’s shares this month?
The post September is not being kind to the Woodside (ASX:WPL) share price appeared first on The Motley Fool Australia. –

The Woodside Petroleum Limited (ASX: WPL) share price is having a rough trot this month despite no news having been released by the company.

The hard slog for Woodside has also come despite relatively steady oil prices.

Since the end of August, the Woodside share price has fallen just 1.2%. However, it fell more than 3% over the past week.

The Woodside share price finished Friday’s session trading at $19.27. It gained 0.36% over the course of the day.

Let’s take a look at what’s been driving Woodside lower on the ASX.  

What’s up with Woodside?

The Woodside share price has been struggling this week despite oil prices remaining relatively steady.

The month started off well for the price of oil, and while it’s been up and down since, it ultimately hasn’t moved much.

The steady oil price comes despite reports China attempted to debase the oil market on Friday. According to reporting by Bloomberg, China released crude oil from its strategic reserve in an attempt to cool oil prices.

While today’s news hasn’t noticeably affected Woodside’s stock or the price of oil today, it may soon dent confidence in the sector.

Other news that might be weighing on the Woodside share price is its planned merger with BHP Group Ltd‘s (ASX: BHP) oil assets. The two companies announced their intent to merge in August.

Under the proposal, Woodside will onboard BHP’s oil assets while BHP would walk away with a 48% holding in the newly expanded Woodside.

Another potential weight on Woodside’s shares is the company’s competitors, Santos Ltd (ASX: STO) and Oil Search Ltd (ASX: OSH), which have been inundated with expectation recently.

The market’s anticipation ended with Friday’s announcement that the pair will be merging to create a $21 billion competitor for Woodside.

However, the confirmation of the Santos-Oil Search merger didn’t seemingly hurt the Woodside share price on Friday.

Woodside share price snapshot

Last week’s slip was just the latest fall faced by Woodside’s stock.

It is currently 16% lower than it was at the start of 2021. However, it has gained 5% since this time last year.

The post September is not being kind to the Woodside (ASX:WPL) share price appeared first on The Motley Fool Australia.

Should you invest $1,000 in Woodside Petroleum right now?

Before you consider Woodside Petroleum, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woodside Petroleum wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

How have ASX energy shares performed during the August 2021 earnings season?

5 things to watch on the ASX 200 on Friday

The Woodside (ASX:WPL) share price could be worth $28: broker
5 things to watch on the ASX 200 on Thursday

The Woodside Petroleum share price is up just 2.5% in a year. Here’s why

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!