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AUSTRALIA'S BHP SAYS CASH FLOW BENEFITING FROM STRONG OIL PRICE.
NEW YORK, Oct 1 Asia Pulse - BHP Billiton Ltd (ASX:BHP) today said its cash flows were benefiting from strong oil price.
BHP Billiton chief financial officer Chris Lynch said a $US1 increase in the price of oil per barrel was worth $US45 million ($A83 million) to the group's result.
In August, BHP Billiton warned that there was cause for concern about the global economy.
Today, Mr Lynch said the overall economy was "still quite uncertain about where it was headed".
"We see some kind of improvement in various markets and then others are still quite flat," he told reporters after addressing the Merrill Lynch Australasian Conference in New York.
"But the benefit for our cash flows right now is the level of the oil price."
Mr Lynch ...
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