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Commodities Briefing - Categorized | Market Moves, Oil more

Shell profits mark end of oil price boom

Posted on 26 January 2009

From Times Online: Royal Dutch Shell will leave no doubt that the recent golden age of the oil industry has ended when it reveals what could be the largest profit ever in Europe this week despite a drop of up to 50% in profits in the most recent quarter.

The sharp fall in the last three months of the year reflects the oil price, which has plummeted to $46 per barrel after reaching an all-time high of $147 last July. Exxon Mobil, Chevron Texaco and Conoco Phillips are expected to show precipitous declines this week when they reveal their end-of-year performance….. Full Article: Source


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