BP Warns of Growth Outlook as Oil Stays above 100

The decline in oil prices eased in European session but the near-term outlook remained fragile due to the uncertainty in European debt problems. Meanwhile, BP warned that high oil prices would worsen global economic slowdown. On the macro front, Eurozone’s GDP expanded +0.2% q/q in 3Q11, unchanged from the preliminary reading.

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BP Warns of Growth Outlook as Oil Stays above 100