Big Oil Profits Lag Despite Rising Production
The oil majors posted mixed results when they revealed their earnings for the second quarter, despite an increase in production in many cases. The danger is that one of the few areas where they see enormous demand growth has suddenly run into trouble, leading to disappointing results. The majors have lifted production for both oil and gas almost across the board even as they pursue different strategies. ExxonMobil and Chevron are all-in on the Permian, and both reported huge increases in output,... Читать дальше...