Never Again: Big Oil Is Back And Practicing Caution

Royal Dutch Shell posted much better-than-expected earnings for the second quarter, a sign that the oil majors are adapting to a low oil price environment. Net profit jumped to $3.6 billion, more than triple the earnings for the same quarter in 2016. Some analysts saw a lot to like in Shell’s financials. “They bought BG, they’re shipping costs out of the business, cash flow is very robust and the industry itself is learning to live with oil at these prices,” Brendan Warn, an analyst at BMO Capital Markets, told Bloomberg.…