Business · 8 February 2026
BP profits hit $7.5bn as oil crashes below $60 a barrel
Harrison Keely via Wikimedia Commons (CC BY 4.0)
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.
Reported by Guardian · How we write briefs