Oil Majors Lost One Engine; Now the Second One Is Sputtering

  • BP says second-quarter refining margins drop to 6-year low
  • Downstream business was key last year in cushioning cheap oil

BP Profit Drop Sets Low Bar for Oil Producers

If Big Oil was a two-engine airplane, you could say it’s been flying on a single engine since energy prices crashed in 2014. Now, the second motor is sputtering.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.