BP Q3 Earnings Fall to 4-Year Low Amid Lower Oil Prices. Analysts Warn of Lower 2024 Payouts.

British oil giant BP announced its weakest quarterly earnings in nearly four years, citing a decline in crude prices and refining margins. BP’s Q3 results were the lowest since the fourth quarter of 2020, as the energy sector grappled with pandemic-era profit drops. CEO Murray Auchincloss expressed confidence in BP’s strategic priorities. BP kept its dividend steady and confirmed it will continue its quarterly share buyback program. Analysts expect shareholder returns to decrease next year due to a weaker macro environment.