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Big Oil braces for second-quarter losses after virus whips up perfect storm
Reuters LONDON – Top U.S. and European oil and gas companies are forecast to swing into a second quarter loss after coronavirus lockdowns destroyed fuel demand, hit prices and squeezed margins, analysts said and Refinitiv Eikon data showed. The expected rare losses for BP (BP.L), Chevron, Eni, Exxon Mobil, Royal Dutch Shell and Total follow a collapse in oil and