Plants line the lounge of British multinational oil and gas company BP at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 13, 2023. REUTERS/Chris Helgren/file photo
BP's gearing, or debt-to-capital ratio, stood at 21.7% in the second quarter, compared with 19.6% in the first quarter and 21.9% a year earlier. For the third quarter, BP expects oil prices to be supported by OPEC supply cuts alongside above-historical-average refining margins helped by lower inventories and U.S. demand.
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