Big Oil Prepares for Lower Prices Amid Cyclical Market

Big Oil Is Bracing for Lower Prices — and Rightly So

On Wall Street, money speaks louder than words. The way Big Oil is currently allocating dollars suggests the supermajors are, quietly, preparing for leaner times. It’s the right approach: Oil is a cyclical business, and lower prices are always around the corner. This time, they may be even closer.

By Javier Blas