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Added on the 28/04/2015 09:29:48 - Copyright : Reuters EN
Oil major BP has reported lower profits and says it will cut spending on exploration because of the fall in oil prices. But as Hayley Platt reports a surprise contribution from its stake in Rosneft helped it beat forecasts.
Low oil prices are still inflicting pain. Earnings even fell at their refinery units, which usually fare well in times of low oil prices. Jeanne Yurman reports.
Oil prices have jumped over 3 percent to their highest since October 2015. As Sonia Legg reports, it follows growing Nigerian oil output disruptions and long-time bear Goldman Sachs saying the market had ended almost two years of oversupply.
Oil prices surge after raging wildfire hit Canada's oil sands region, cutting as much as one-third of the country's daily crude capacity.
An oil price surge after a breakdown in diplomatic ties between Saudi Arabia and Iran was short-lived due to weak economic data from some of Asia's largest economies. But as Grace Pascoe reports there are concerns the dispute could have an impact on the global economy.
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