BP (BP. L) Shares Suffer A Decline Due To Low Demand For Crude Oil

BP (BP. L) is valued at 23.10 GBP. Shares are down 10.00% today. Share prices quickly decreased after reaching a high in June 2021, when revenue was valued at 332.70 GBP. The drop over the last six months is at 1.43 %. BP (BP. L) has announced that oil consumption had decreased.

Amid the COVID-19 epidemic and the worst economic recession in postwar history, general energy consumption decreased precipitously last year. Even after accounting for the drop-in economic activity, BP’s actual decline in energy consumption was over twice the magnitude of the predicted reduction, at 4.5 % versus a decline of about 2.5%.

BP (BP. L) is a multinational oil and gas company headquartered in London. BP provides expertise in oil trading, sources barrels of oil from across the world, and has unique access to BP’s worldwide assets. The company also sources barrels from other producers through our network, giving us access to all primary crude grades.

Lora Nilsson

Finance and Business reporter After graduating high school. Lora decided to travel and blog as a part-timer. Today she enjoys what she loves and works remotely as our finance and business reporter

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