BP Sees Surprise Profit Gains on Refining, Trading

BP surprised the market by delivering a profit instead of the expected loss, thanks to cost-cutting measures and strong performance in refining and trading. The company has reduced its capital expenditures and is now able to balance its books with lower oil prices. However, future growth is uncertain and depends on oil price movements influenced by Saudi Arabia and Russia. BP and the industry are cutting costs across the board, affecting exploration and employment.

What are the key factors that will determine BP's future growth according to the text?

Discuss the significance of oil prices in BP's financial strategy as mentioned in the text.