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OPEC Output Cuts End Big Oil’s Trading Bonanza

  • Oil traders benefited in 2015 and 2016 from storage deals
  • BP said it suffered a "small" loss in oil trading in late 2016
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BP and Shell Hit as Oil-Trading Boom Ends

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The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over.

BP said on Tuesday it made a "small" loss trading oil in the fourth quarter, while Shell last week said trading profits "flattened" in late 2016. The fall off in trading contributed to worse-than-expected fourth-quarter profits at Europe’s largest oil and gas producers.