BP CEO Dudley: 'OPEC Agreement in December Has Brought Back Some Stability'

BP (BP) CEO Bob Dudley emphasized the importance of December's OPEC agreement to cut oil output, in an interview with CNBC on Tuesday afternoon.

"The OPEC agreement in December has brought some stability back, and I think there is a real commitment to meeting that," Dudley contended.

The deal has increased the level of confidence in oil investments, he added. 

Regarding BP, Dudley expressed the significance of 2017 and contended that the company will see growth this year.

"2017 is a really important year for us, we have more new projects being commissioned than ever before in the history of the company," Dudley said.

How should investors play Trump's tax plan? Click here for a game plan from Jim Cramer and four of our top experts.

More from Stocks

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline