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Second-Quarter Profits Dive for Big Oil as Oil, Natural Gas Prices Sink
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August 3, 2023–Written by John Egan for Industrial Info Resources (Sugar Land, Texas)–The markets give, and the markets take away. Plunging prices for crude oil and natural gas in the second quarter offset strong demand, resulting in sharply lower profits for four large international integrated oil companies: Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas), Chevron Corporation (NYSE:CVX) (San Ramon, California), Shell Plc (NYSE:SHEL) (London, England) and BP Plc (NYSE:BP) (London, England).
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