UK oil company BP
is set to pay the price for plummeting prices. It has announced it is
to shed 4,000 jobs globally, 600 of which will be lost from its North
Sea operations.
The job losses come as the company’s profits continue to suffer as a result of a 70 percent collapse in prices.
Benchmark Brent crude dropped to 30.60 dollars per barrel. Analysts believe the price could fall more.
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Source: Euronews
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