BP Expects Weak Oil Trading and Refining Margins to Reduce Q4 Profit ...Middle East

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BP Expects Weak Oil Trading and Refining Margins to Reduce Q4 Profit
Weak oil trading and declining refining margins are expected to lower the fourth-quarter earnings at BP, the UK-based supermajor said on Tuesday, joining other international giants in flagging weaker profits. BP forecasts that weaker realized refining margins will dent the Q4 earnings by up to $300 million. Refinery turnaround activity is also set to have a higher impact for the fourth quarter compared to the third quarter. The BP refining marker margin averaged $13.10 per barrel in the fourth quarter of 2024 compared to $16.50 per barrel in the…

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