Oil Giants Start Losing Safety Net as Refining Margins Squeezed

Updated on
  • Fourth-quarter margins show steepest drop in 8 years: BP data
  • Analysts have cut EPS estimates for Exxon, Shell, Total, BP

Finding Signs of Price, Demand Hope in Oil Markets

Refining profits that buttressed earnings for Exxon Mobil Corp. and Royal Dutch Shell Plc as crude prices plunged are now slumping, further pressuring all of the world’s biggest oil companies as they move into 2016.

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