Do you have Big Oil shares in your investment portfolio? Looking at Big Oil to gauge how the market is recovering? This month we’re breaking down trends on how Big Oil is protecting shareholder value by balancing short-term challenges against long-term goals. What are they doing while production is down?
Many companies significantly decreased their production to match the demand drop, but they haven’t stopped working. Companies are looking to become more efficient in the future and are using shut-ins as an opportune moment to invest in repairs, efficiency upgrades and automating processes. Major market players responsively reduced capital expenditures when COVID-10 disrupted demand. That prompt response enables them to preserve cash and retain their long-term investments.
HERE’S HOW A FEW MARKET MAJORS ARE FARING HEADING INTO Q3:
EXXONMOBIL (XOM)
The industry giant ExxonMobil estimated its Q2 Losses at $1.1 billion, which translates…
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