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Earnings Season In Full Bloom: How Are Oil Companies Faring?

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By Brian O’Connell
August 1, 2012

It’s earnings season and the living isn’t exactly easy for energy companies.

Oil producers mostly saw revenues wane in the second quarter of 2012 as crude prices receded in the face of a souring global economy and declining demand before being “rescued” somewhat by geopolitical friction in oil-rich countries like Iran, Syria and Sudan.

Altogether, crude prices declined by 7% in Q2. That scenario was upside down in the second quarter of 2011, when oil prices rose significantly as the Arab Spring uprisings took root, adding some serious cabbage to ...

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