BP Shares Climb 20% on Supply Disruptions as Q1 Revenue Forecast Hits $33.7B
BP shares have risen about 20% since February 28 as Middle East supply disruptions boost oil prices, outpacing all major peers after BP shifted strategy to cut renewables and focus on oil and gas. Analysts forecast Q1 revenue of $33.7 billion and EPS of $0.14.
1. Share Performance Surge
BP shares have risen approximately 20% since February 28, outpacing ExxonMobil, Chevron, Shell and TotalEnergies. This surge follows a 45% rally in crude oil futures and disruptions to Middle East oil and gas flows after the Iran war began.
2. Strategic Reset Impact
Last year, under activist investor pressure, BP announced a strategy reset to slash renewable energy investments and refocus on oil and gas production. This pivot has aligned BP with higher oil prices and supported its recent stock outperformance.
3. Q1 Earnings Forecast
BP expects to report Q1 2026 revenue of $33.7 billion and earnings of $0.14 per share when it announces results on April 28. Extreme market volatility has led BP to anticipate an “exceptional” oil trading result for the quarter.