Skip to content
Subscriber Only

Big Oil Investors Bracing for Bad News as Headwinds Gather

  • Explorers warning about shaky results as guidance increases
  • Pressure on demand growth seen impacting quarterly earnings
Chevron Corp. Jack/St. Malo Platform As Big Oil Rivals Shale In Gulf
Photographer: Luke Sharrett/Bloomberg
Updated on

Slumping energy prices, sluggish global demand and shrinking chemical margins are weighing on the oil industry as its biggest names prepare to announce quarterly results to investors demanding ever-higher payouts.

The so-called supermajors -- Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc -- are expected to disclose a 42% plunge in third-quarter earnings, on average, when they post results this week. That drop-off is too steep to blame on the 18% decline in crude oil prices, which means executives will have some explaining to do.