BP posts its highest profit since 2014

Photo: Paul Ellis/AFP/Getty Images

U.K.-based global oil giant BP reported $2.6 billion in first quarter profits on the strength of higher oil prices and higher production, its biggest haul in three years and a rise of 71% from the same period in 2017.

Why it matters: BP is the latest Big Oil giant to report a jump in earnings as crude oil prices have climbed.