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BP’s quarterly profit hits $3.3bn as oil price rebounds
BP has reported its biggest quarterly profit since the Covid pandemic began, and will hand investors a $500m (£360m) cash windfall, as the global oil markets recover from the crisis. The oil company reported a profit of $3.3bn for the first quarter, up sharply from a loss of $628m in the same period last year when oil prices began to slide in line with China’s economic slowdown.