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" ... Aside from even more government overreach, though, the solution to low oil prices is, as they say in Houston, low oil prices. As marginal U.S oil production drops to zero and production curtailments by OPEC+ hit the markets, oil will once again become a scarce good as global economies begin to recover from COVID-19 lockdowns in the second half of 2020. Companies that store oil on a temporary basis are thus the huge winners here. ... "
" ... Chief executive officer Ryan Lance said that Conoco had begun restoring production. "As the market strengthened late in the second quarter, we began reversing our second-quarter curtailments and ramping up production across the Lower 48, Alaska and Canada." ... "
" ... Not surprisingly, Kinder’s CO2 and enhanced oil recovery division was hit hard by production curtailments and lower energy prices. But at less than 10 percent of EBDA, it had only a minor impact on the bottom line. ... "
" ... PAA’s revenues grew by 66% from $20.2 billion in 2016 to $33.7 billion in 2019, supported by growth in crude oil gathering volumes. Also, improving net margins coupled with lower shares outstanding have resulted in a substantial jump in earnings per share. Recovery in benchmark prices and growing upstream production volumes have supported finances in recent quarters. With OPEC+ members extending production curtailments until there are clear signal of global macroeconomic rebound, midstream players in the U.S. are likely to benefit from sliding inventories and stable prices. ... "
" ... XOM stock has partially reached the level it was at before the drop in February due to the coronavirus outbreak becoming a pandemic. The healthy rise since the March 23 lows has primarily been due to production curtailments, operational expense reduction, and capex cuts. While EIA expects global crude oil inventories to ease during the third quarter, the resurgence of Covid cases in the U.S. and other countries has led to the second round of restricted living. Per Exxon’s Q2 report, gasoline and diesel demand is likely to recover by the fourth quarter while the demand for jet fuel is expected to remain subdued. Thus, Exxon’s trailing P/E multiple has low near-term upside potential as the company tries to achieve operational efficiency amid falling revenues. ... "