Oil giants in tough balancing act despite promising upturn

The appetite for investments in new production remains muted among oil companies. Despite significant improvements in the first quarter, a Clarksons Platou analyst expects the oil industry to focus on pampering its shareholders and only invest very cautiously.

Photo: Steve Nesius/Reuters/Ritzau Scanpix

Earnings have started pouring in big time at the world's oil companies again.

But this does not mean one should hold one's breath in anticipation of a new investment boom in the oil industry in step with a recovery of the global economy on the heels of the coronavirus pandemic, which is causing demand for oil and gas to go up, says Erik Tønne, Head of Market Analysis – Shipping and Offshore, at Clarksons Platou.

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