BP PLC's earnings collapsed in 2015, the company said Tuesday, amounting to a full-year loss of $5.2 billion that illustrates the toll a 20-month slide in oil prices is taking on the world's energy industry.<br />The U.K. oil titan said it would cut a further 3,000 jobs by the end of 2017, another dramatic measure to respond to oil prices that averaged just $44 a barrel in the last three months of 2015.<br />BP's results come after Chevron Corp. said last week it would slash its spending by $9 billion and lay off 4,000 workers in 2016 after reporting a surprise fourth-quarter loss of more than half a billion dollars.<br />BP said it would continue to review its capital framework throughout this year, but said it expected to benefit from falling costs if prices remain lower for longer than anticipated.
