Have Oil Majors Really Adapted To $50 Oil?

The oil majors, by and large, have posted dramatically better
financial figures for the second quarter, a sign that their cost
reduction efforts are bearing fruit. They are no longer in the red,
but at the same time, there is little chance that they will return
to aggressive growth. Here is a quick rundown of the headline
figures for some of the largest publicly-traded oil companies in
the world: ExxonMobil: $3.35 billion in profits, double from a year
earlier Chevron: $1.45 billion in profits, up from a loss in the
second quarter of 2016 Royal…

The oil majors, by and large, have posted dramatically better
financial figures for the second quarter, a sign that their cost
reduction efforts are bearing fruit. They are no longer in the red,
but at the same time, there is little chance that they will return
to aggressive growth. Here is a quick rundown of the headline
figures for some of the largest publicly-traded oil companies in
the world: ExxonMobil: $3.35 billion in profits, double from a year
earlier Chevron: $1.45 billion in profits, up from a loss in the
second quarter of 2016 Royal…