On September 22, BP PLC fell 3.06% in regular trading, trading at $43.215/share, with turnover of $431 million. The decline comes amid broad selling pressure across integrated oil majors following reports that Saudi Aramco may cut crude oil allocations to European refiners.

According to recent reports, Saudi Arabia's main East-West pipeline to the Red Sea was shut after drone attacks, prompting Saudi Aramco to notify at least two European refining firms that they would not receive crude supply next month. BP, along with Shell, TotalEnergies, and Equinor, was specifically cited among major European refiners potentially affected. While partial pipeline operations are expected to resume within days and full service within six weeks, the near-term supply disruption has weighed heavily on European-exposed energy names.

The broader Integrated Oil & Gas sector saw widespread losses, with Exxon Mobil down 3.28%, Occidental down 2.94%, Chevron down 2.40%, Shell down 1.35%, and Petrobras down 0.77%. Separately, BP continues to advance its portfolio reshaping strategy through asset sales in Australia, Egypt, and the UK North Sea, while pursuing new upstream developments in Venezuela and Brazil.

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