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Falling oil price puts BP's profits at risk of 20% drop, say analysts

2014-10-26 23:28:39| Oil & Gas - Topix.net

The dramatic effect of falling oil prices on profits in the energy sector will be underlined this week as BP unveils third quarter earnings that could be as much as 20% lower than the same period last year. The cost of crude on global markets has plunged since June, reflecting faltering growth in the world economy, reduced fears about Middle East production levels and soaring US shale output.

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