Big oil is still feeling the pain
REUTERS/Mike Segar
The oil majors began reporting their third quarter earnings in recent days, and the figures do not look good. The three-month period ending in September saw oil prices sink to the low $40s per barrel and rebound to $50, but the losses continued to pile up for many of the largest oil companies.
Statoil started the earnings season on Thursday, reporting a loss much worse than analysts had expected. The quasi-state-owned Norwegian firm reported a loss of $432 million in the third quarter... Читать дальше...