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Fly News Breaks for April 19, 2017
BP
Apr 19, 2017 | 06:56 EDT
Citi analyst Alastair Syme downgraded BP to Neutral saying that while a dividend cut in 2017 is unlikely, the yield can still expand. Higher returns to shareholders still requires significant oil price recovery, Syme tells investors in a research note. Further cost reductions at most big oil companies look needed to align the businesses to the $50-$60's oil price-cap that is likely set by U.S. shale, the analyst contends.
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