BP To Benefit From Record Oil Prices

Petroleum giant BP has going to turn high oil prices to account by keeping its production higher than expected in the second quarter leaving it poised to break its annual profits record with a new figure of $20 billion.

The company produced 4.1 million barrels a day - 3.5% better than during the same three months last year - but over a period when Brent crude futures price was more than $50 a barrel - and 46% higher than last year.