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Energy giant’s results flattered by year-on-year increase in crude
Thursday 04 May 2017 Author: Tom Sieber

Oil major BP (BP.) posted first quarter profit of $1.5bn against expectations for $1.26bn thanks to higher oil prices. Crude hit multi-year lows in early 2016 as investors fretted about the Chinese economy and averaged $35.30 per barrel in Q1 2016 against $54.70 in Q1 2017. It will be interesting to see how BP fares when the comparatives are not as favourable. (TS)

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