Reported 1 day ago
Big Oil's first-quarter earnings reveal significant differences in production strategies amid declining oil prices. While Exxon Mobil and Shell maintained share buyback programs, Chevron and BP announced cuts, indicating their struggles with profitability and cash flow. Exxon's production surged, particularly from the Guyana oilfield, leading to increased shareholder confidence. Conversely, BP experienced a sharp profit drop, prompting concerns about its financial strategies and future performance compared to its rivals.
Source: YAHOO