BP hit the brakes on its share buyback program Tuesday, opting instead to channel extra cash toward trimming debt and boosting oil-and-gas spending, after quarterly underlying profit numbers landed largely in line with forecasts. The company also flagged roughly $4.2 billion in impairments and disclosed it had unloaded a minority stake in its U.S. onshore oil assets for $1.5 billion. The suspension of buybacks is a big deal—investors have counted on those returns as a cushion when prices weaken, and BP has turned to share repurchases to help calm nerves after years spent changing direction. BP stock is up around 9% year-to-date, ahead of European competitors Shell and TotalEnergies, but it’s still trailing ExxonMobil in the U.S., according to the Financial Times.