Yesterday’s quarterly report from Conoco-Philips (COP) is
showing a renewed trend among oil companies, mirroring the report
of Anadarko Petroleum (APC) a few days earlier. Both are reporting
negative earnings while cutting capex for the remainder of 2017.
Capex cuts were epidemic in 2015 and 2016, as oil companies reeled
from cratering oil prices. But 2017 was signaled by most oil
companies as a green light year, where they chose to again increase
capex in hopes that the bust cycle for oil was ending. It hasn’t
turned out that way.…
showing a renewed trend among oil companies, mirroring the report
of Anadarko Petroleum (APC) a few days earlier. Both are reporting
negative earnings while cutting capex for the remainder of 2017.
Capex cuts were epidemic in 2015 and 2016, as oil companies reeled
from cratering oil prices. But 2017 was signaled by most oil
companies as a green light year, where they chose to again increase
capex in hopes that the bust cycle for oil was ending. It hasn’t
turned out that way.…
Yesterday’s quarterly report from Conoco-Philips (COP) is
showing a renewed trend among oil companies, mirroring the report
of Anadarko Petroleum (APC) a few days earlier. Both are reporting
negative earnings while cutting capex for the remainder of 2017.
Capex cuts were epidemic in 2015 and 2016, as oil companies reeled
from cratering oil prices. But 2017 was signaled by most oil
companies as a green light year, where they chose to again increase
capex in hopes that the bust cycle for oil was ending. It hasn’t
turned out that way.…
showing a renewed trend among oil companies, mirroring the report
of Anadarko Petroleum (APC) a few days earlier. Both are reporting
negative earnings while cutting capex for the remainder of 2017.
Capex cuts were epidemic in 2015 and 2016, as oil companies reeled
from cratering oil prices. But 2017 was signaled by most oil
companies as a green light year, where they chose to again increase
capex in hopes that the bust cycle for oil was ending. It hasn’t
turned out that way.…
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