BP's Weakest Quarterly Earnings
This is a news story, published by CNBC, that relates primarily to BP news.
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underlying replacement cost profitCNBC
•British oil giant BP posts weakest quarterly earnings in nearly four years on lower crude prices
76% Informative
BP posted underlying replacement cost profit, used as a proxy for net profit, of $2.3 billion for the July-September period.
The firm's third-quarter results were the weakest since the fourth quarter of 2020 , when industry profits cratered during the coronavirus pandemic.
Oil prices fell by more than 17% in the third quarter amid concerns about the outlook for global oil demand.
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