In Q1 2024, BP reports increased oil and gas production, but expects lower oil and gas prices to cause a $200M-$600M impact on its businesses.

BP reports increased oil and gas production in Q1 2024, forecasting upstream production to be larger than Q4 2023. However, the company expects lower oil and gas prices to cause an adverse impact of $200M-$400M on its gas and low-carbon energy arm and $300M-$600M on its oil production business. The price of a barrel of Brent oil averaged $83.16 in Q1 2024, a decrease of 1.18 compared to Q4 2023.

April 09, 2024
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