Big Oil Shrugs at $60 Crude—for Now

The biggest international oil firms used the first-quarter earnings calls to reassure investors that Big Oil is in a ‘business as usual’ mode at oil prices at $60 per barrel. As ExxonMobil, Chevron, Shell, BP, and TotalEnergies reported their Q1 earnings and provided guidance for the second quarter and the rest of the year, oil prices were ending one of the worst months in years, in which oil sank to its lowest level since 2021. The market rout began on April 2, just after the first quarter ended, so the world’s top international…