Big Oil eyes record profits but keeps spending in check
FROM THE WIRE · FINANCE.YAHOO.COM
Oil supermajors have been raking it in since the war in the Middle East began. They are now set to report another robust quarter, even as some jurisdictions where they operate plan to slap windfall taxes on them. The question now is what Big Oil will do with these profits. The…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishRecord oil profits driven by a war premium on crude may affect the energy sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Oil majors have been earning strongly since the war in the Middle East began.
- 02The S&P 500 Energy sector booked 128.2% annual growth in the second quarter.
- 03Reuters predicted Shell could report an 84% increase in earnings.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Exxon Mobil Corporation178.07 USDMarket closedtoday +0.12%Positive Chevron Corporation226.77 USDMarket closedtoday +0.47%Positive Shell plc105.36 USDMarket closedtoday -0.17%Positive LionShares U.S. Equity Total Return ETF24.29 USDMarket closedtoday +0.68%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets