Low Oil Prices Hit Industry Giants Hard03:51

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Two oil giants this week released reports showing how their earnings have been impacted by the recent steep fall in oil prices.

BP on Tuesday reported a quarterly loss of $4.4 billion dollars in the fourth quarter of 2014, which the company attributes in part to falling oil prices.

On a similar note, Exxon Mobil on Monday reported a steep drop in revenue and profit, with both down 21 percent in the fourth quarter, over the previous year.

Jason Bellini joins Here & Now's Jeremy Hobson to look more closely at how low oil prices are impacting these companies.


This segment aired on February 3, 2015.