Big Oil Has Learned To Live With Lower Oil Prices

Big Oil is seemingly adjusting well to lower-for-longer oil
prices, and the deep cost cuts every oil company—big or
otherwise—had to make over the last two years have finally started
to pay off. According to an estimate from Jefferies, the world’s
top-five oil producers generated cash of $34 billion during the
third quarter of the year, an annual increase for all of them. Four
of the five—BP, Total, Exxon, and Chevron—also booked quarterly
increases in their cash position. Shell was the only one whose
third-quarter…

Big Oil is seemingly adjusting well to lower-for-longer oil
prices, and the deep cost cuts every oil company—big or
otherwise—had to make over the last two years have finally started
to pay off. According to an estimate from Jefferies, the world’s
top-five oil producers generated cash of $34 billion during the
third quarter of the year, an annual increase for all of them. Four
of the five—BP, Total, Exxon, and Chevron—also booked quarterly
increases in their cash position. Shell was the only one whose
third-quarter…