January 14, 2025 [Reuters]- BP said on Tuesday that lower refining margins would reduce its fourth-quarter profit by $100 million to $300 million (€97.47 million to €292.40 million), also expecting oil trading to be weak.

Global demand for gasoline and diesel fell short of expectations, while the launch of new oil refineries in Asia and Africa led to a supply glut.

BP said achievements at its oil production and operations unit are expected to have an impact of around $200 million to $400 million compared with the previous quarter.

The British major also expects upstream production to be lower in the quarter than in the previous three months.

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