The French oil major reported a net profit of $34 million for the first quarter, against $3.1 billion a year earlier.
Since the end of March, oil has been hit further by a collapse in demand due to the economic impact of the coronavirus, even going negative at one point last month, when sellers had to pay buyers to take oil off their hands. Investments would now be less than $14 billion for this year, down a quarter from what the group had announced in February.
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