1002 GMT - BP is among the most mentioned companies across news items over the past four hours, according to Factiva data, after the British energy giant said it expects higher on-quarter upstream production. Specifically, it expects higher oil output and slightly higher production of gas and low-carbon energy, it said. This echoes the 1Q guidance set out in February when it released its full-year results, and sent shares to a six-months high, also aided by Brent crude futures--the global oil benchmark--shooting past $90 a barrel. BP also backed its full-year guidance of a slightly higher output than 2023, a sign that the company is "is hoping to quietly get on and do the job, achieving small incremental gains which should be enough to keep the market happy," AJ Bell analyst Russ Mould said in a market comment. The update follows that of closest rival Shell, which on Friday lifted its guidance for first-quarter production of integrated gas and liquefied natural gas. Dow Jones & Co. owns Factiva. (christian.moess@wsj.com)
(END) Dow Jones Newswires
04-09-24 0618ET
