Next Week Is as Good as It Gets for Big Oil
- Several majors expected to post highest earnings in 3 quarters
- Strong performance may not last as oil seen easing back to $40
Oil Profits Best We're Going to See for a While: Morris
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For oil companies, the second quarter might be as good as it gets.
Shares gained more than in any other industry, thanks to crude rising from a 12-year low. Profits were the best in at least three quarters for majors including Royal Dutch Shell Plc, Chevron Corp. and BP Plc, helped by cost cuts, analysts say. The rest of the year might not be as rosy as supply holds near record levels.