Business & Finance

Reuters provides insight on how Exxon retreated from oil trading in pandemic as rivals made fortunes

Reuters provided insight on how Exxon Mobil’s effort to build an energy trading business to compete with those of European oil majors unraveled quickly last year as the firm slashed the unit’s funding amid broader spending cuts. The coronavirus pandemic sent oil prices to historic lows, before a strong rebound, creating an immense profit opportunity for trading operations willing to take on the risk. 

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Global
Win Types: Impact (Long Term)
Story Types: Special Report / Insight
Media Types: Text
Customer Impact: Major Global Story
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