Oil’s Earnings Slump Puts Pressure on Investor Payouts
- Fourth-quarter profit to be lowest in more than three years
- Oil markets weigh uncertain outlook driven by Trump’s return
A deepwater oil platform in the Gulf of Mexico.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
The flow of dividends and buybacks from the world’s largest oil companies is under pressure, with fourth-quarter profits plunging and the return of President Donald Trump adding to the uncertainty.
The five global oil majors are set to post the lowest quarterly profits in more than three years when they begin reporting this week, according to data compiled by Bloomberg. A slump in crude prices takes most of the blame, but weak refining, trading and chemicals also contributed.