| Two things are clear from BP's results this morning. First, the oil major is preparing for a low oil price for the foreseeable future, saying that it is working towards a "financial frame" by 2017 that assumes a price of $60 a barrel. When I interviewed Bob Dudley at the start of the year, he said that low energy prices could last for three years.
Nothing since then seems to have changed his view. "Last year, we acted decisively to reset BP for a sustained period of lower oil prices and the results are coming through well," he said today...............................................Full Article: Source
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