File photo: CGTN

BP on Tuesday said it slumped into a $4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil.

"The economic impact of the COVID-19 pandemic coupled with pre-existing supply and demand factors have resulted in an exceptionally challenged commodity environment," the British energy giant said in a statement, having reported profit after tax of $2.9 billion in the first-quarter of 2019.