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Added on the 01/11/2016 15:18:28 - Copyright : Euronews 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.
Midland (Texas), Apr 6 (EFE).- Gas prices across the US are extremely low causing oil prices to drop dramatically in part due to the COVID-19 coronavirus. (Camera: LARRY SMITH).FOOTAGE SHOWS AN OIL PUMP IN AN OIL FIELD NEAR MIDLAND, TEXAS, USA.
BP reports a near halving in Q3 earnings and cuts its investment plans by another $1 billion - but beats estimates. And, as Hayley Platt reports, a strong set of numbers from Shell also came in ahead of forecasts
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.
Major oil exporters meet in Doha this weekend to discuss a possible production freeze. But even if a deal is struck, analysts offer little hope it will reduce a glut that's pushed crude prices down by 70 per cent since 2014. Kirsty Basset reports.
BP slumps to its worst annual loss in 2015, the British oil and gas company announces, and says it will cut thousands more jobs in the face of a deep rout in oil prices. Hayley Platt reports