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BP’s strong relationship with Russia has seen the stock lose ground since conflict in Ukraine erupted last week, while other oil stocks have rallied on higher prices.
Markets are expecting BP to follow in Shell’s footsteps by accelerating distributions to shareholders as cashflow improves thanks to higher oil and gas prices.
With oil and gas prices rising and the sale of its assets in the Permian basin wrapped-up, investors are expecting shareholder returns to accelerate in 2022.