BP Narrowly Avoids Third-Quarter Loss

(Bloomberg) — BP Plc narrowly avoided a third-quarter loss, but warned there are many challenges ahead as the pace of recovery in oil demand remains uncertain.The company defied analyst expectations to eke out a small profit as a rebound in earnings from fuel marketing offset “extremely weak” refining margins. Yet the positive surprise may do little to change the gloomy outlook for Big Oil amid the coronavirus pandemic.While crude prices have recovered from historic lows seen in April, BP’s profit was down 96% from a year earlier as restrictions put in place to slow the spread of the coronavirus in …read more

Source:: Yahoo Finance