Big oil's trading arms reap huge profits during energy crisis
By
The Economist
Summary
This article discusses how major oil companies, particularly European ones, are profiting enormously during the current energy crisis (framed as the "third Gulf war") not just from selling their own oil production, but increasingly from their secretive trading arms that buy and sell rival companies' barrels. These trading operations have become a significant source of profit during the energy shock.
Source
bskyBig oil's trading arms reap huge profits during energy crisisecon.stKey quotes
· 3 pulledOil majors have two ways to make big money during an energy shock.
The third Gulf war has now demonstrated just how important the latter has become as a source of profit for the industry—particularly in Europe.
Meet the corporate gamblers who never waste a good energy crisis
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