World’s Top Oil Firms Combined Q1 Profits Shrink 4%

Rising U.S. production weighed on oil prices in the first quarter compared to the same period last year, and those lower prices, combined with weak refining margins, impacted the revenues and net profits of many of the world’s largest listed companies in the oil industry. According to data compiled by Anadolu Agency from the Q1 2019 reports of the 12 top listed companies in the oil industry—ExxonMobil, Chevron, ConocoPhillips, Halliburton, Schlumberger, Baker Hughes, BP, Royal Dutch Shell, Total, Eni, Equinor, and Rosneft—the…