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Impressive Earnings Send Oil Stocks Higher | OilPrice.com

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Oil majors have reported massive profits in the second quarter, with oil stocks across the board climbing as investor confidence grows.

profits

posted by the likes of ExxonMobil, Chevron, and Shell – and this time around, thanks to falling gasoline prices in the US, there have been no accusations of making more money than God. With all leading oil majors promising either to maintain or intensify share buybacks over the upcoming period, oil stocks have seen a much-needed surge this week.

its H1 profits rose to an unprecedented $12.7 billion thanks to an average crude price of $105 per barrel and that for the first time in many years PEMEX is set to see an annual profit.that coal demand will rise to 8 billion tons this year, a 0.7% increase year-on-year, matching a record high set in 2013 and paving the way for further hikes next year hit an all-time high.

 

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caused by governments forcing cuts in production, OPEC(+) and, for instance, the ban on exploration and production in the EU

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