# BP said first-quarter 2026 results will be shaped by volatile energy markets.

*business · news · 2026-04-14 · OilPrice*

## Key points

- BP expects exceptional oil trading results in Q1 2026, reversing a weak previous quarter.
- Net debt is projected to rise to $25–27 billion due to a $4–7 billion working capital build.
- Brent crude prices averaged $81.13 per barrel in Q1, up sharply from the prior quarter.
- BP warns realized prices may lag benchmarks due to market volatility and regional dislocations.
- Refining margins and downstream performance are expected to improve from lower turnaround activity.

**Companies:** BP
**Countries:** United Kingdom, United States, China

[Read the full story on OilPrice](https://oilprice.com/Company-News/BP-Flags-Trading-Windfall-as-Volatility-Lifts-Q1-Earnings-Outlook.html)

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