Beach Energy Ltd (BPT.AU) saw its stock price plummet by 10.61% in Friday's trading session, as the Australian energy sector faced a significant sell-off triggered by global market turmoil and oil price concerns. The dramatic decline comes as part of a broader downturn in energy stocks, with the Australian energy sub-index .AXEJ dropping 7.6% to its lowest level since November 2020.

The sell-off was primarily driven by U.S. President Donald Trump's announcement of reciprocal tariffs, which rattled global markets and raised fears of escalating trade tensions. Adding to the pressure, eight OPEC+ countries agreed to advance their plan for oil output hikes, a move that could potentially lead to oversupply and further depress oil prices. These factors contributed to a more than 6% slump in global oil prices on Thursday, the steepest decline in three years.

Analysts suggest that energy stocks like Beach Energy are likely to face continued pressure as markets price in higher probabilities of a U.S. recession. The situation is further exacerbated for Australian energy companies, as the country has been hit with a 10% duty equivalent to the U.S. baseline tariff on all imports. As investors scramble for safer bets, the energy sector has experienced a frantic sell-off, with Beach Energy and its peers bearing the brunt of the market's concerns about future oil demand and global economic stability.