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Oil Patch Still Battered by Low Prices, Weak Demand

Oil Patch Still Battered by Low Prices, Weak Demand


Attachment: A, Brent, Gasoline

SUGAR LAND, TEXAS--November 4, 2020--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Third-quarter financial results for companies in the Oil Patch -- including integrated oil majors and stand-alone refiners -- have generally improved over second-quarter 2020 results, but they are far worse than they were for the year-earlier quarter, when oil sold for higher prices and before economic restrictions stemming from the COVID-19 pandemic choked off demand for transportation fuels.

Within this article: Earnings for BP Plc (NYSE:BP), Royal Dutch Shell Plc (NYSE:RDS.A), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Marathon Petroleum Corporation (NYSE:MPC), ConocoPhillips (NYSE:COP), Valero Energy Corporation (NYSE:VLO) and Phillips 66 (NYSE:PSX)