Analysts say that ConocoPhillips’ deep-seated layoffs demonstrate the need for capital discipline.
Investors and analysts have said that ConocoPhillips needs to focus more on its capital discipline and its investment priorities to be competitive against its peers, as oil prices are falling and revenues are also declining. This comes after the company announced it was laying off up to 25 percent of its staff in order to reduce costs. ConocoPhillips, the third largest U.S. oil company, has joined majors Chevron, BP and SLB, as well as the world's two largest oil service companies, Halliburton and SLB, in cutting its staff.
Palm oil rises as rival crude and rival oil prices are stronger
Malaysian palm oil futures closed higher on Monday as they tracked stronger edible oil prices in Dalian and Chicago. Crude oil prices also increased, supporting prices. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives exchange closed at 4,488 Ringgit ($1,064.77) per metric ton after gaining 40 ringgit or 0.9%. Dalian's palm oil contract, which is the most active contract, rose by 0.11%. The Chicago Board of Trade's (CBOT), which trades soyoil, saw a 0.96% increase.
Colombia's Ecopetrol reports a 46% drop in profit as oil prices fall
Ecopetrol, Colombia's state-owned oil company, reported a 46% drop in its net profits for the second quarter 2025. This was due to lower oil prices globally, which impacted sales. Production also decreased. The company reported a net profit of 1.81 trillion pesos ($450 million) for the three-month period ending June, compared with 3.38 trillion pesos a year ago. Total sales were 29.67 trillion, down 9% compared to 2024's same quarter. Ecopetrol's shares…
Occidental Petroleum beats quarterly profit, discloses additional divestments
Occidental Petroleum on Wednesday beat Wall Street's expectations for the second quarter profit, as higher production offset lower crude oil prices. The average quarterly global production of the company was 1.4 million barrels per day (MMboepd), an increase of about 11% compared to a year ago. Exxon Mobil, Chevron and other oil giants reported last week that they had beaten their quarterly profit expectations due to higher production. This helped them to offset the lower crude price.
Devon Energy's profit forecast for the second quarter was missed due to low oil prices
The U.S. oil-and-gas producer Devon Energy narrowly missed Wall Street's expectations for the second quarter profit on Tuesday as lower commodity prices offset an increase in production. As a result of the growing demand for natural gas, the company has also announced two new supply agreements. Benchmark Brent crude oil prices dropped during the quarter of April-June compared to a year ago, due to a combination of growing market insecurity caused by tariffs, weak demand globally and an increase in supply from OPEC+.
Diamondback claims it is the 'consolidator' of choice in Permian as oil outlooks dim.
Diamondback Energy, a shale driller, said Tuesday that it should be the "consolidator" of choice in the Permian Basin as shale activities slow and the company concentrates on shareholder returns after its $26 billion merger. Diamondback shares dropped 3.6% in the morning to $142.67 after it reported a second-quarter loss below analyst's estimates. The company was hit by a 20% drop in Brent crude oil prices year-on-year amid weak global economic growth, OPEC+ production increases, and geopolitical tensions.
Maurel & Prom’s core profit for the half-year drops by 25% due to lower oil prices
Maurel & Prom, a French oil company, reported a 25% decline in its core profit for the first half of this year on Tuesday. The drop was attributed to falling crude oil prices. Earnings prior to interest, taxes and depreciation decreased from $186 millions a year ago to $140 in six months. The group suffered a 16% decline in the average price of oil products, which fell to $70.90 a barrel. It had warned mid-June about how low prices would affect its quarterly revenues, echoing comments made by TotalEnergies BP Shell.
Exxon exceeds profit expectations with higher production despite low oil prices
Exxon Mobil - the United States’ largest oil producer - beat Wall Street expectations for the second quarter profit on Friday, as increased oil and gas production and low production costs compensated for the lower crude oil prices. Exxon Mobil reported that oil and gas production reached its highest level in any second quarter ever since Exxon Mobil was formed by the merger of Exxon Mobil and Exxon more than 25 year ago. LSEG data showed that adjusted earnings for the second quarter totaled $7.1 billion or $1.64 a share.
Shell's profits drop by almost a quarter but still easily exceed expectations
Shell's adjusted earnings for the second quarter, which is its definition of net profits, fell by almost a third Thursday. The drop in oil prices was to blame, but analysts still beat their forecasts. The oil giant said that it will maintain its pace of share buybacks at $3.5 billion for the next three-month period, marking the 15th consecutive quarter with at least $3 billion. Shell, on the other hand, has achieved a $3.9 billion cost reduction compared to 2022. This is part of a programme of cost cutting aimed at saving $5 billion to $7 billion by 2028.
Germany is seen to be weakening as France calls for less nuclear power
The French power price rose Wednesday due to a tightening of the nuclear supply in France, while German prices were impacted by lower demand and increased wind generation. The outlook for Germany is negative, Riccardo Paraviero, LSEG analyst, said. He added that coal production was down, while gas units produced more. The French baseload contract for Thursday had risen 4.9% to 54 euros ($62.43 per megawatt-hour (MWh), while the German equivalent was not traded, after settling at 80.28 euro.
Mexico's Pemex increases its net profit in the second quarter
Mexico's energy state company Pemex reported Monday a change in net profit for the second quarter. The net profit reached 59.52 trillion pesos, up from 273.33 trillion pesos during the same period last year. It also reported in a filing to Mexico's main exchange that revenue fell by 4.4% between April and June to 391.62 billion Pesos. The heavily-indebted firm attributed the decline to lower crude oil prices and lower gasoline and diesel prices. The company reported that the EBITDA (earnings before interest…
Maurel & Prom revenue drops in first half due to falling oil prices
Maurel & Prom, a French oil company, reported a 30 percent drop in revenue for the first half of its fiscal year on Thursday. The fall in oil prices was to blame. The average price of oil products fell 16% on an annual basis to $70.90 per barrel. Crude oil prices dropped in the second quarter, as OPEC+ (made up of the Organization of Petroleum Exporting Countries, and its allies, such as Russia), began to undo the self-imposed production reductions of 2,17 million barrels a day that were imposed in April.
Palm oil prices rise on Chicago soyoil and crude oil firmer, while the ringgit is soft.
The price of Malaysian palm oils futures increased on Wednesday. This was due to gains in the rival Chicago soyoil market, higher crude oil prices, and a weaker Malaysian ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for October delivery had gained 45 ringgit or 1.08% to 4,208 Ringgit ($990.58). Prices of soyoil on the Chicago Board of Trade have increased by 0.77%. Dalian's soyoil contract was the most active, rising 0.4%. Palm oil contracts were slightly down 0.07%.
Palm oil prices rise as rival oil prices do.
Malaysian palm futures closed higher Monday as they tracked stronger edible oils and higher crude oil prices. They were also helped by the weaker ringgit. The benchmark palm-oil contract for September delivery at Bursa Malaysia's Derivatives exchange gained 58 Ringgit or 1.39% to $4,232 Ringgit ($995.76) per metric ton. "Prices are being supported by the firm crude oil that continues to bolster global edible oil markets," Darren Lim said, commodities strategist for Singapore-based brokerage Phillip Nova.
BP reports gas and oil price hits; increased upstream production in the second quarter
BP said that its second-quarter results will be affected by lower gas and oil prices, but the upstream production is expected to be higher than originally forecast. The company announced this in a trading report on Friday, ahead of the results scheduled for August 5. Crude oil fell in the first quarter of the year as OPEC+ (the Organization of Petroleum Exporting Countries plus its allies, such as Russia), began to reverse the self-imposed production reductions of 2,17 million barrels a day that it had imposed in April.
European Commission to Propose Floating Price Cap on Russian Oil
The European Commission is expected to propose a floating Russian oil price cap this week as part of a new draft sanctions package in an attempt to overcome opposition from some member states, four EU diplomats said.The Commission proposed lowering the Group of Seven (G7) nations' price cap from $60 a barrel to $45 barrel in June in its 18th package of sanctions against Russia for its invasion of Ukraine. The G7 price cap, aimed at curbing Russia's ability to finance the war in Ukraine…
Palm oil prices rise for the fourth consecutive session as stronger competitors gain ground
Investors analyzed data from the Malaysia Palm Oil Board to determine whether or not they should buy futures of palm oil in Malaysia. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for September delivery was up 27 Ringgit (0.65%) to 4,184 Ringgit ($984.47) per metric ton. "Malaysian Palm Oil Futures extended modest gains. Supported by technical momentum, a lower ringgit and strength in the related vegetable oil markets.
As the heat fades, spot prices will continue to fall.
The day-ahead power prices in France and Germany fell for the third consecutive day on Thursday, as temperatures began to cool after a prolonged heatwave. Meanwhile, nuclear availability increased in France. The price decline was less dramatic than it had been on Wednesday. This is because the temperatures are expected to drop more slowly and German wind output will be lower after a sudden increase in mid-week. LSEG data revealed that the French baseload day-ahead contract was down 11.1% at 72.25 Euros per Megawatt Hour (MWh) as of 1101 GMT.
Palm prices rise on expectation of lower production and strong demand
The price of Malaysian palm oils futures rose slightly on Thursday as the market grew stronger due to lower production and demand from major destinations. At the midday break, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery gained 18 ringgit (0.45%) to $3,983 ringgit (USD $943.39) a metric tonne. The contract dropped 3.9% over the last two sessions. David Ng is a proprietary trader with Kuala Lumpur's trading firm Iceberg X Sdn Bhd.
The fragile Middle East truce has knocked down the prices of crops that are tied to oil.
The price of crops around the globe has been impacted by a shaky truce between Iran and Israel, especially those that can be converted into biofuels. Prices are affected by the price for crude oil. The price of crude oil dropped sharply after President Trump announced a ceasefire. This hit futures contracts and stocks for vegetable oils like Malaysian palm, European rapeseed and Chicago soyoil. John Duvenaud, Winnipeg, Canada's crop markets analyst…