Oil has experienced a downtrend in Q3 2024, influenced by several factors: geopolitical tensions, EIA forecasts, OPEC+ production cuts, and slow growth in China. This pattern mirrors Q1 2023, where oil company profits subsequently declined.
2023 Q1 Chart
2024 Q3 Chart
Here is a comparison of some oil companies earnings :
2023
2024
Disclaimer
This is not financial advice. I’m a regard who is trying to learn something about stock market .
Credit to: UlquiorraCfier