High Oil Prices Set Supermajors Up For A Promising Earnings Season

The world’s largest oil companies are set to report next month another set of strong quarterly earnings amid significantly higher oil prices and global oil demand in the second quarter compared to the same period last year.  Europe’s largest oil firms—Shell, BP, TotalEnergies, Eni, and Repsol—had already seen solid earnings for the first quarter as lockdowns eased and oil price rose with a tightening market. For the second quarter, results would be higher, and certainly much higher than for the second quarter of 2020. …