BP dividend hangs in the balance

Oil prices dropped fell below $40 on Monday for the first time in several weeks as mounting concerns about oversupply weighed on energy markets. The slide provides a gloomy backdrop to BP’s second quarter results released on Tuesday morning that are expected to reveal a big loss for the oil titan. Analysts suggest that the market widely expects the London-listed company to follow in the footsteps of rival Shell, which slashed its dividend by two thirds last quarter, in what would be a majo