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• If you are wondering whether BP’s recent share price levels still offer value, the key is to look past the headline numbers and understand what the current price implies about the business.

• BP’s stock has had a mixed short term patch, with a 4.3% decline over 7 days and a 6.7% decline over 30 days, set against stronger returns of 25.9% year to date, 66.4% over 1 year, 32.7% over 3 years, and 121.7% over 5 years.

• Recent coverage of BP has focused on how the company fits into global energy markets and the ongoing investor debate about traditional energy versus lower carbon investments….