London (AFP) – BP profits slumped in the third quarter on sliding oil prices and a drop in the ruble linked to Western sanctions against Russia, the British energy group said on Tuesday.BP, which owns almost 20 percent of Russian oil major Rosneft, said that “depreciation of the ruble against the dollar over the period had a significant impact on” performance in Russia.Oil prices have fallen sharply since the middle of June owing to a global supply glut, which prompted US bank Goldman Sachs to say on Monday that it had slashed its price forecasts for the next two years.. …read more
Source: Business Insider
