Contrary to consensus expectations, BP Plc., the London-based integrated oil major, posted a strong set of financial results for its September quarter 2016 on 1st November 2016 on the back of higher price realizations. While the company missed its revenue estimate for the quarter, it exceeded the analyst forecast for 3Q’16 earnings by a large margin, driven by the cost savings realized by the company. However, due to the optimistic tone set by its counterparts, Chevron and Exxon Mobil, in their earnings last week, the market did not seem pleased with BP’s performance, causing the company’s stock to drop by more than 4% post the announcement of the results