The oil majors delivered disappointing short-term news to thier shareholders after earning and profits were hit across the board as a result of lower oil prices and increased costs.
A mixed set of Q2 2019 reports from the oil majors and lubes producers including Shell, BP, ExxonMobil and Fuchs.
A generally volatile market has led to slightly depressed numbers for most of the oil majors at the start of the year, but their CEOs are confident of being able to manage the volatility.
BP's highest quarterly results for more than five years demonstrates the trend of increased profits and revenue for oil majors.
Rising commodity prices and US tax reforms boosted 2017 Q4 and annual results for the oil producers.
Almost all oil majors are reporting increased sales and profits.
Transparency Market Research predicts Independent Lubricant Manufacturers Market set to reach nearly US$9.5bn by 2025
Oil majors have reported a significant improvement in earnings and profit.
BP and Fuchs are bucking the downwards trend for the fourth quarter 2016.
New research shows a flourishing automotive market will also boost independent lube sales.