Friday, 5 February 2021, 6:52 am
There is a delicate blend of optimism and caution as oil
supermajors sail into earnings season, following one of the
worst years for the industry.
According to the
research data analyzed and published by Sijoitusrahastot,
the energy sector was the worst performer on the S&P 500
in 2020, plummeting 37% YoY. Comparatively, the broader
index had a close to 15% gain during the
period.
ExxonMobil, the largest US energy firm, was
one of the stock market’s top losers in 2020. Its share
price fell by a massive 40% during the period. The decline
wiped around $120 billion from its market
value.
Exxon Reports First Annual Loss in 40