BBC News | BP and the falling price of oil - interactive video BBC News Oil giant BP has reported lower profits and says it will cut spending on exploration because of the fall in oil prices. Underlying profits in the final three months of 2014 were down 20% on a year earlier at $2.2bn (£1.5bn). For the full year, profits ... Oil cost collapse due to supplier price war – not weak demand Citi: The oil (and gas) plunge isn't over yet |