BP expects upstream output to fall in second quarter in line with guidance

BP said it expects upstream production to decline in Q2, consistent with prior guidance, citing effects from the Middle East crisis. The update signals a near-term volume headwind for the company, though it is not a guidance change beyond what was previously indicated.

Analysis

BP said it expects upstream production to decline in Q2, consistent with prior guidance, citing effects from the Middle East crisis. The update signals a near-term volume headwind for the company, though it is not a guidance change beyond what was previously indicated.