While oil prices were up on Tuesday morning, having just posted the first monthly gain since May, worrying industrial data out of China is holding prices back. Chart of the Week - As US oil majors such as ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) see their stock prices hit all-time highs, soaring 75% and 52% in 2022 to date, the Biden administration might be increasingly tempted to squeeze them for funds.
- The five largest global oil companies have posted net income totaling almost 60 billion in Q3 2022 alone,…China’s Covid Strategy Is Keeping Oil Prices In Check
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