Big Oil Set to Book Lowest Quarterly Profits in Three Years ...Middle East

The five biggest international oil and gas majors are expected to report in the coming weeks their lowest quarterly earnings in three years, data compiled by Bloomberg showed on Tuesday. Lower oil and gas prices, weaker oil trading and LNG business at some of the European majors, and declining margins across the board are expected to weigh on the fourth-quarter earnings of ExxonMobil, Chevron, BP, Shell, and TotalEnergies, according to analysts and trading updates from the majors themselves. The declining profits, which will remain in the billions…

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