Oil Supermajors to Show Worst Is Over With Commodities Rally
- Improvement expected in late 2021 with further cash boost
- West’s biggest drillers now collectively smaller than Tesla
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The Western world’s largest oil explorers are sailing into earnings season on the tailwind of strong commodity prices after a 2020 they would rather forget.
With crude prices and refining margins buoyed by the rollout of Covid-19 vaccines and the prospect of an economic rebound, investors will be watching for signs in Big Oil’s fourth-quarter earnings that higher crude prices will translate into much-needed increased cash flows this year.