Business

BP halves dividend after suffering huge losses

BP has halved its shareholder dividend and posted a $6.7bn quarterly loss after the coronavirus pandemic hit global demand for oil. The dividend news is another blow for pension funds and private investors who have seen a string of firms cut or halt payouts. The loss was largely due to BP writing down the value […]

World News

OPEC cuts oil demand forecasts, BP sees ‘peak oil’ in 2020s

Developing countries’ difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Monday as it cut its forecasts. OPEC cut its estimates for world demand by 400,000 barrels a day for both this year and next. It now sees a drop […]