Can Big Oil Surprise This Earnings Season? ...Middle East

Rising oil benchmarks and rebounding share prices: two things Big Oil majors had all but forgotten last year. Yet helped by OPEC+ and Big Pharma, the world’s largest oil companies are beginning to remember what it felt like to have some ground under their feet. This week Big Oil begins reporting fourth-quarter and full-year 2020 results. Here’s what we can reasonably expect. The Year of Writedowns If 2020 had to be named by Big Oil, it might well be named The Year of the Writedowns. Big Oil wrote down tens of billions of dollars worth…

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