US supermajors book major losses off oversupplied virus quarter's demand crash
US-based Big Oil companies ExxonMobil and Chevron both present major deficits and revenue levels rubbed out by the Covid-19 pandemic and associated crash in crude demand.
BY MATHIAS JULIUS FALKENGAARD & DANIEL FRANK CHRISTENSEN, ENERGYWATCH
A global oil glut and pandemic-related crude demand crash lead two US-based oil and gas supermajors to book deep deficits and obliterated revenues, show the groups' second quarter interim reports, published Friday afternoon CET.
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