BP PLC (LON:BP) shares have plummeted to their lowest level since 1995, reaching just £2.10 on Wednesday, falling from its £5 value in the beginning of 2020.
Oil is currently experiencing one of the most intense years on record after prices sank to their lowest levels since 1982 during coronavirus lockdown due to sluggish global demand.
Its value has increased, but WTI crude is well below its annual high of 63.27 in the first week of January, and is now only $39.71 on Thursday afternoon.
Similarly, Brent crude was $42.24, down from $68.91 at the beginning of the year.
BP was forced to cut its dividends for the first time in August since the Gulf Coast Deepwater Horizon Oil leaked in 2020.
Market analysts told the Guardian that they are currently facing double risks in addition to “a potentially financially risky transition to low-carbon energy” and “uncertain outlook” for the entire oil industry.
CEO Rooney announced in February that BP will commit to a net zero carbon emissions scheme by 2050, but investors can understand in many countries that have consistently low stock prices over the past few months and are considering a secondary lockdown.
BP’s stock price fell 4.47% as of 13:15/10/2015 at 203.15, with dividend yield of 0.14%.
