Five supermajors plan to release earnings on Thursday & Friday and it's expected reports will show roughly $29 billion in free cash flow - the most since 2008. This could be due to a strong demand for crude, natural gas and chemical price surges, and a rebound in refineries.
The price of Brent Oil neared an eight-week low on Monday following OPEC+ closing a deal to increase Oil production. This comes in the wake of OPEC’s previous decision to keep supplies low earlier in the course of the pandemic.
Royal Dutch Shell is reviewing a possible sale of its most extensive U.S. holdings. The field in question could be worth up to $10 billion.
According to its Q1 earnings report which came out earlier today, Royal Dutch Shell earned $3.2 billion during its first quarter this year, versus analyst estimates of $3.1 billion. This performance was mostly due to the recovery in global Oil and gas markets.
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