Oil companies' earnings are highly correlated with crude oil prices. For instance, Exxon Mobil's net margin dipped to 2.7% in 2016 when the average WTI crude oil price touched $43, while the figure improved more than two-fold to 5.7% in 2017 as the average benchmark oil price for the year recovered
Oil companies' earnings are highly correlated with crude oil prices. For instance, Exxon Mobil's net margin dipped to 2.7% in 2016 when the average WTI crude oil price touched $43, while the figure improved more than two-fold to 5.7% in 2017 as the average benchmark oil price for the year recovered
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