New production from new projects contributed to one of the best quarters since 2014, when oil prices were over $100 per barrel, BP said Tuesday. The British supermajor reported total oil and gas production averaged 3.7 million barrels of oil equivalent per day in the first quarter, up 6 percent the same period last year. Seven new projects were brought on stream last year, just as the price of crude oil moved steadily beyond the $50 per barrel market. “Together with stronger oil prices, this growth resulted in underlying pre-tax earnings of $3.2 billion — the best result since the third quarter of 2014, when oil was trading at over $100 per barrel,” the company’s statement read. “By comparison, […]