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BP beats expectations thanks to oil price rise
Oil major BP (BP.) posted first quarter profit of $1.5bn against expectations for $1.26bn thanks to higher oil prices. Crude hit multi-year lows in early 2016 as investors fretted about the Chinese economy and averaged $35.30 per barrel in Q1 2016 against $54.70 in Q1 2017. It will be interesting to see how BP fares when the comparatives are not as favourable. (TS)