BP beat third-quarter expectations with underlying profit of $8.5 billion, above the $6.191 billion forecast compiled by analysts. The result was nearly four times higher than a year earlier, driven by stronger performance in gas and marketing trading and significantly higher refining margins. Operating cash flow reached $28.55 billion over the first nine months of the year, while net debt fell from $26.05 billion to $13.87 billion. Shell and TotalEnergies also reported historically high refining margins, supported by refinery outages and geopolitical disruptions that have tightened global fuel markets.
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