BP profit again outstrips forecasts, lifted by higher oil output

A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.

BP’s second quarter contrasts with Total (TOTF.PA) and Norway’s Equinor (EQNR.OL), which posted sharp earnings drops, and builds on a steady recovery after deep cost cuts since the 2014 downturn, project start-ups and last year’s $10.5 billion purchase of BHP’s U.S. shale assets.

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