{"id":381571,"date":"2020-11-02T08:37:35","date_gmt":"2020-11-02T03:07:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=381571"},"modified":"2020-11-02T08:59:29","modified_gmt":"2020-11-02T03:29:29","slug":"big-oil-stares-at-a-long-winter-ahead-as-global-fuel-demand-stays-muted","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/big-oil-stares-at-a-long-winter-ahead-as-global-fuel-demand-stays-muted\/","title":{"rendered":"Big oil stares at a long winter ahead as global fuel demand stays muted"},"content":{"rendered":"<p>It was Andrew Swiger, the chief financial officer at Exxon Mobil Corp., who summarized the attitude of the whole industry after Big Oil ended reporting another dismal set of quarterly earnings: \u201cPrices will have to rise.\u201d <\/p>\n<p>After months of low oil and gas prices driven by weak demand, the world\u2019s largest international oil companies have largely exhausted their financial defenses, leaving little room to maneuver if they\u2019re dealt further blows. Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell Plc, Total SE and BP Plc have already reduced 2021 spending probably to as much as they can. <\/p>\n<p>With the exception of perhaps Chevron and Total, which entered the downturn with the strongest balance sheets, leverage is approaching uncomfortable levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was Andrew Swiger, the chief financial officer at Exxon Mobil Corp., who summarized the attitude of the whole industry after Big Oil ended reporting another dismal set of quarterly earnings: \u201cPrices will have to rise.\u201d After months of low oil and gas prices driven by weak demand, the world\u2019s largest international oil companies have largely exhausted their financial defenses, leaving little room to maneuver if they\u2019re dealt further blows. Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell Plc, Total SE and BP Plc have already reduced 2021 spending probably to as much as they can. With the exception of [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-381571","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=381571"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381571\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=381571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=381571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=381571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}