Yes, that risk is there even when I bought XOM and CVX.
The real issue is not about Dividend, but demand for oil. Even now, The two high demand places are US and China. When Trump+Rep discourage (financially using tax accounting), US imports may go down, but production in US will increase.
Second, USD will get harder against GBP/EURO when FED rates are increased. These two factors affect BP returns.
This is the main reason, I stay away from all foreign companies (and bought XOM and CVX).
I was thinking for a while before putting a limit order, but it is too early to visualize what will happen in future, took the risk and bought it. I think my potential loss (if any) is protected around 5% drop.
I bought it at $34.234 today, I feel the lowest it can go possibly around $33 and not below. Let me see.