European stocks close sharply lower on Wednesday as investors reacted to fresh corporate earnings and ongoing political uncertainty in the U.S.
Shell has reported higher than expected revenues for the first quarter of 2017.
BP beat forecasts Tuesday, thanks in large part to higher oil and gas prices.
European markets closed higher on Tuesday as investors reacted to fresh earnings and awaited the upcoming French presidential vote.
Some of the names on the move ahead of the open.
BP beat analyst expectations on Tuesday as higher oil prices and increased production helped improve the oil giant's bottom line.
U.S. equity futures pointed to a higher open on Monday after the U.S. government avoided a shutdown.
Energy giant BP slashes CEO Bob Dudley's 2016 pay package by 40 percent.
Producers of liquefied natural gas (LNG) have shot themselves in the foot with oversupply, and face calls for flexibility and greater competition.
BP has agreed to cut about £5 million from its CEO's maximum pay for the next 3 years in a bid to avoid a shareholder revolt, Sky News reported.
When OPEC points at U.S. oil producers, it always blames the shale drillers for oversupplying the world market.
Persistently low oil prices will keep BP on a "strict capital diet" for years to come, Bob Dudley said.
At the CERAWeek conference, Bob Dudley, BP CEO, speaks to CNBC's Brian Sullivan about the return to growth for the company and his outlook for the industry.
BP CEO Bob Dudley speaks live from the CERAWeek conference in Houston, Texas.
US drillers, buoyed by a higher oil price, are producing at the highest rate in a year, setting up a showdown with OPEC and Russia.
Republicans and industry groups said an anti-corruption regulation disadvantaged U.S. drillers, but foreign firms follow similar rules.
BHP Billiton on Thursday approved its $2.2 billion share of investment for the second phase of the Mad Dog oilfield in the Gulf of Mexico, as expected.
French oil major Total said it is hunting out opportunities to buy plumb assets from struggling rivals after it reported better-than-expected fourth quarter net profits.
U.S. equities closed mixed as energy capped gains, while investors focused on a slew of corporate earnings reports.
European stocks closed higher as earnings and economic data continued to be the main focus for investors.