BP Profit Sinks as Lower Oil, Weak Refining Strain Industry

  • Refining margins were lowest for the second quarter since 2010
  • Third-quarter oil and gas output will fall amid maintenance

BP Profit Tumbles on Prices, Weak Refining Margins

BP Plc posted a 45 percent slump in earnings, pointing to a poor set of results from the industry as oil production barely breaks even and profits from refining sputter.

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