Post #4471994

'... 150-plus days since the Iran war started, West Texas Intermediate crude is hovering at about $75 a barrel, down 35% from its conflict peak. 'Their free cash flow — the measure between cash generation and expenses — is even more striking. The top five international oil companies generated nearly $70 billion during the second quarter, the most ever ... rather than returning that huge war windfall to shareholders, the oil majors focused on paying down debt and restructuring operations. 'Big Oil is finally doing something it hasn’t being very good at in the past: acting counter-cyclically, saving money during the boom to spend it during a bust. The industry still doesn’t have many allies on Wall Street, and even fewer in the greener financial hubs of Europe'. https://archive.md/D86jh