TotalEnergies Stock Forum

Aramco Stockpile is insane comapred to the other companies
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Oil prices crash nearly 10% in 5 days over fears around weakening global demand.
Even as OPEC just extended oil production cuts of 2 million barrels per day, oil prices are nearing their 2024 lows.
Recent data suggests that US economic activity in manufacturing and construction is slowing. As a result, oil prices are down 16% from their April peak and up just 3% year-to-date
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The Oil Market vs Top 10 Metal Markets Combined 📊
Source: Visual Capitalist
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US is Producing 12.9 Million Barrels Per Day
That's BIGGER than Saudi Arabia and Russia, countries you naturally associate with being global leaders in oil production.
This rapid growth in production since 2008 has been driven by the Shale boom out of Texas, New Mexico & North Dakota.
This higher production helps the U.S. offset the impact of supply cuts for domestic consumers from OPEC, who generally favour higher prices.
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🛢️ $Chevron(CVX.US)$ Chevron's Q3 2023 Earnings Report: $6.5B in earnings and $3.48 EPS, but a year-over-year dip. Major acquisitions and $20B returned to shareholders! 📈 $Exxon Mobil(XOM.US)$  $ConocoPhillips(COP.US)$ $BP PLC(BP.US)$ $Equinor(EQNR.US)$ $Shell(SHEL.US)$ $TotalEnergies(TTE.US)$ $Petroleo Brasileiro SA Petrobras(PBR.US)$ $Schlumberger(SLB.US)$ $EOG Resources(EOG.US)$ $Hess Corp(HES.US)$
Financial Performance:
✅ Total Earnings: $6.526 billion, down from $11.231 billion YoY, a notable d...