6:37 PM · 2 February 2021

BP records first loss in a decade

BP
Stocks
BP.US, BP PLC - ADR
-
-
BP
Stocks
BP.UK, BP PLC
-
-

BP (BP.US) stock fell more than 6% after the U.K.-based oil giant reported disappointing fourth-quarter profit and posted a $5.7 billion annual loss for 2020, its first in a decade. BP results were affected by the low demand caused by the pandemic. Company also warned of a difficult start to 2021 amid widespread travel restrictions. “Tough quarter, clearly, at the end of a really tough year,” BP Chief Executive Officer Bernard Looney said in a Bloomberg TV interview on Tuesday. “The full-year results were hit hard by Covid.”

However BP is confident that cash flow will increase amid higher oil and gas prices, especially as it ramps up production in large assets such as Shah Deniz in Azerbaijan and Ghazeer in Oman, Chief Financial Officer Murray Auchincloss said in an interview.

BP (BP.US) launched today's session with a bearish price gap and later price broke below the  lower limit of the descending channel. Stock is currently testing major support at 20.70 which also coincides with 200 SMA ( red line). Should a break below occur, downward move may accelerate towards next support at $18.12. On the other hand, should buyers manage to bring price back  above the upper limit of the  aforementioned channel, the move towards resistance at $23.60 could be on the cards. Source: xStation5
6 October 2025, 7:14 PM

Daily summary: US100 surges almost 1% 📈Crypto and precious metals on the rise

6 October 2025, 3:06 PM

Stock of the Month: Will Meta win the AI ​​race?

6 October 2025, 1:03 PM

AMD rises on the wave of the OpenAI deal. Pre-market trading shows a 25% increase in shares.

6 October 2025, 12:00 PM

DE40: France pulls the market lower 📉

Join over 1 700 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits