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Business · 8 February 2026

BP profits hit $7.5bn as oil crashes below $60 a barrel

BP profits hit $7.5bn as oil crashes below $60 a barrel

BP faces intense investor pressure as analysts forecast full-year profits plummeting to $7.5 billion, down from nearly $9 billion in 2024. Incoming CEO Meg O'Neill confronts demands for a strategic overhaul after crude oil prices crashed below $60 per barrel, marking the steepest decline since the pandemic. Activist groups, including Follow This, urge the energy giant to disclose plans for managing fossil fuel spending amidst falling global demand.

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Reported by Guardian · How we write briefs

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