The Secret Behind Better Oil Major Earnings

After several years of austerity and belt-tightening, the
major international oil companies posted substantial profits in Q2
of 2017. The five largest private oil companies together generated
more than $30 billion in profit, an indication that most have
successfully adapted to the current bout of low prices, while a few
have publicly indicated their belief that prices will hover around
$50 for the foreseeable future. What this means is that the “mega
projects” that dominated many companies’ balance sheets for the
last decade will…

After several years of austerity and belt-tightening, the
major international oil companies posted substantial profits in Q2
of 2017. The five largest private oil companies together generated
more than $30 billion in profit, an indication that most have
successfully adapted to the current bout of low prices, while a few
have publicly indicated their belief that prices will hover around
$50 for the foreseeable future. What this means is that the “mega
projects” that dominated many companies’ balance sheets for the
last decade will…