Forecast of the Day: BP’s Average Price Realized on Refined Products
BP (NYSE: BP) reported its results earlier today. The company reported a rebound in earnings from fuel sales and the absence of significant exploration write-offs. Underlying replacement cost profit (a proxy for net profit), totaled $100M vs. an expected third-quarter loss of $347M. That compares with a loss of $6.7B in Q2, and a $2.3B profit reported a year earlier.
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