BP Stock Flat This Year, What Now?

Getty Images BP's net debt grew to $24 billion from $21 billion at the end of Q1 2023, and cash flow fell by roughly a third to just over $5 billion. The company mentioned that its results were affected by a $2.4 billion build in working capital, most of which should likely be reversed by the end of Q3 2024. It is worth mentioning that OPEC+ has decided to extend cutbacks on oil production through the first half of 2024 to support prices by warding off a surplus. Given the weaker global demand, and going by ...