BP's debt pile of $39 billion is expected to rise in the first half of this year as it continues to struggle with a weak environment, but the company said it remained on track to reduce it to $35 billion by early 2021.
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Gasoline sales by the three state fuel retailers rose by 5.9% to 2.36 million tonnes last month
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OPEC crude production increased for a seventh month in January, a Reuters survey found, after the group and its allies agreed to ease supply curbs further, but the growth was smaller than expected.
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Brent crude futures were up 10 cents at $55.14 a barrel by 0233 GMT, while U.S. West Texas Intermediate (WTI) gained 1 cents to $52.21. Both benchmarks gained nearly 8% in January.
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Exxon and Chevron's shares nosedived last year after a Saudi-Russian price war and fallout from the novel coronavirus outbreak caused the value of oil to crater.
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Rosneft has estimated its resources at 44 billion barrels, enough to supply the world for over a year, and said it could produce 1% of global oil later this decade at a price competitive with the cheap barrels of Middle Eastern producers.
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The survey of 50 participants forecast Brent crude would average $54.47 per barrel this year, a jump from last month's $50.67 forecast. Brent has averaged around $54 so far in January.
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State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.
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