ExxonMobil reports huge loss amid collapse of oil prices

The oil market plunged back in April due to numerous restrictive measures and lockdowns, which halted many industries across the world, significantly lowering demand for fuel. Oil giant Exxon Mobil on Friday reported a loss of $610 million in the first quarter, compared to $2.35 billion in profits over the same period last year. The … Continue reading ExxonMobil reports huge loss amid collapse of oil prices

OPEC production cuts, best for improved oil prices

  Energy stocks drove Wall Street higher on Wednesday in the aftermath of a rise in oil prices and OPEC production cuts. 'The market is consolidating. To see what our next driver is, were going to watch to see if the cuts are working, if the members that agreed to them are adhering to them,' … Continue reading OPEC production cuts, best for improved oil prices