Global oil prices
Fuel price recovery due to lifting of lockdowns - Energy Dept
From midnight on Tuesday, the price of petrol is going up one cent while a litre of diesel will cost 21 cents less.
The new strategy also sheds more light on chief executive Bernard Looney’s plan to reduce BP’s oil and gas production by 40%, or at least 1 million barrels per day, by 2030 while expanding into renewable energy.
Brent crude was up 44 cents, or 1%, at $44.87 a barrel by 0810 GMT, while West Texas Intermediate oil rose 43 cents, or 1%, to $42.13 a barrel.
Crude futures plunged to record lows this month, with US prices sinking briefly into negative territory, also following a vicious price-war between major oil producers Saudi Arabia and Russia.
The US has been pouring troops into the Middle East, while millions of Iranians have taken to the streets to protest against the killing of their top military commander.
US President Donald Trump on Tuesday dismissed fears the trade row with China could be drawn out.
US President Donald Trump last week said he would impose a 10% tariff on $300 billion of Chinese imports starting on 1 September.
The OPEC cartel and its oil-producer nation allies opted in December to trim daily crude output by 1.2 million barrels.