Profits Plummet for Big Oil Companies
Large integrated oil companies have been grossly underperforming this past quarter, as the sub-industry is reporting a 17% decline in revenues year over year. Even the biggest oil company in the world, ExxonMobil , couldn't reverse the trend, as it reported a 57% drop in earnings.
In this week's edition of The Motley Fool's energy-focused show Digging for Value, energy analysts Joel South and Taylor Muckerman dive into earnings releases from two large integrated major oil companies.
With both United States and international crude benchmark prices over $100, investors are moving back into the industry. If you're on the lookout for some currently intriguing energy plays, check out The Motley Fool's "3 Stocks for $100 Oil." For free access to this special report, simply click here now.
The article Profits Plummet for Big Oil Companies originally appeared on Fool.com.
Joel South, Taylor Muckerman, and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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