News Formal

Oil Stocks Are Showing A Peculiar Disconnect From Crude Prices | OilPrice.com

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 68%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Crude prices have fallen back on a flurry of bearish news, but energy stocks remain resilient as oil firms continue to hand out cash to shareholders

The Energy sector has reported the highest earnings growth of all eleven sectors at 137.3% vs. 2.

The analysts note that commodity prices have declined from very high levels earlier in 2022, but have predicted that prices are likely to remain cyclically strong through 2023. This, combined with modest growth in volumes, will support strong cash flow generation for oil and gas producers. Moody’s estimates that the U.S. energy sector’s EBITDA for 2022 will clock in at $$623B but fall to $585B in 2023.

According to data from Bernstein Research, the seven supermajors are poised to return $38bn to shareholders through buyback programmes this year, with investment bank RBC Capital Markets putting the total figure even higher, at $41bn.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nigeria’s Oil Industry Can Flourish Despite Oil Theft | OilPrice.comWhile Nigeria’s oil industry is facing plenty of challenges, most notably oil theft, there is plenty of optimism around the industry as it implements its latest five-year plan
Source: OilandEnergy - 🏆 34. / 68 Read more »