Big Oil’s Profits Are Taking a Hit Even Before Trump’s Tariffs Start to Bite
With the macro environment weakening, flagging first-quarter results may be a harbinger of the year to come.
The Neptune LNG floating storage regasification unit, operated by TotalEnergies SE, at the terminal in Lubmin, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Welcome to our guide to the commodities markets powering the global economy. Today, reporter Mitchell Ferman discusses how oil majors’ poor earnings this quarter so far may potentially get worse amid the trade war.
Signs are emerging that Big Oil’s profits are sliding, with European supermajors reporting a challenging start to the year — and that’s before they see serious stress.