It doesn't look as if cuts to buybacks and capex will preserve enough cash for Big Oil — some new job cuts have been ...

BP expects a rise in upstream production and higher refining margins in its products segment to boost earnings, but warned of a weak contribution from its oil trading division.

BP expects third-quarter upstream production to rise from the previous quarter and anticipates a boost of up to $400 million from higher refining margins in its products segment.

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BP swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and continued to weigh on fuel demand and refining profits.