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London (AFP) – British energy giant BP on Tuesday said it slumped into a $4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil, triggering a price crash.”Our industry has been hit by supply and demand shocks on a scale never seen before,” BP’s new chief executive Bernard Looney said in an earnings statement, having seen crude prices plunge from around $70 per barrel at the start of the year to close to $10 currently. He confirmed there would be job losses.”The economic impact of the COVID-19 pandemic coupled with pre-existing supply and demand factors ha…
