Share this
You would think that with oil prices up near three-year highs that BP’s share price would have risen along with it, and while it is up in the year, it’s still below the level it was at its Q1 update, even with today’s positive reaction to the company’s Q2 results.
Today’s Q2 update is certainly welcome news for shareholders, the company reporting $2.8bn underlying replacement cost profit, compared to a $6.7bn loss a year ago. It also helped to boost H1 replacement cost profit to $5.4bn, thus building on the underlying replacement cost profit of $2.6bn in Q1, and posting its best performance since 2019.