Oil price recovery brings Eni back to profit

Italian oil company Eni returned to profit during the first quarter of 2017, versus a loss in the year-before quarter, owing to the upward trend in crude oil prices. 

The oil company on Wednesday posted a net profit of €965 million, versus a loss of €383 million. According to Eni, this performance was driven by a recovery in crude oil prices with the Brent benchmark up by 59%, as well as an increase in production.

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