Statoil and BP Release Reports Amid Oil Declines

Oil extended declines in a bear market amid signs producers from the Middle East to the U.S. will continue adding supplies to a global glut. Oil exports from southern Iraq rose to a record this month, while a Bloomberg survey forecasts U.S. crude stockpiles expanded for a second week through July 24. Brent in London closed Monday more than 20 percent lower than its peak reached in May, meeting the common definition of a bear market.

Full Show: Bloomberg Daybreak: Americas (08/10)
40:00 - Bloomberg Daybreak: Americas hosted by David Westin and Alix Steel. Guests include Putri Pascualy, managing director and credit strategist at Pacific Alternative Asset Management Co., Brigadier General Mark Kimmitt, U.S. Army (ret.), and Stephen Auth, chief investment officer for global equities at Federated Investors. (Source: Bloomberg)
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