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Gushing profits for oil majors on crude price

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Gushing profits for oil majors on crude priceThe world’s top energy companies booked enormous profits last year thanks to higher oil prices and keeping a tight lid on spending, even if that risked limiting their medium-term production capacity. Higher oil prices didn’t hurt, of course, although the fourth quarter was marked by strong volatility. Overall, the price of Brent crude was $71 per barrel last year, compared with $54 in 2017.