In a sign of the times, ExxonMobil has been replaced on the Dow Jones Industrial Average by tech company Salesforce.
A growing number of analysts believe that U.S. production will never again hit recent highs.
Poor results for Big Oil causes concern among investors - and places pressure on the oil majors.
Chesapeake Energy's financial woes suggest the shale revolution is running on fumes.
Oil majors continue to ratchet up activity in U.S. shale, even as other producers cut back.
The poor performance in the first three months of the year has not put a dent in confidence among top oil executives who see stronger profits later this year and next, although plenty of uncertainty remains.
The oil majors have reported their best financial results in years, but they still face a litany of risks both in the near-term and in the years ahead.
The Eastern Mediterranean has already become a significant source of natural gas production, but fully developing the region’s gas reserves, as well as finding ways to move that gas to market, has been extremely challenging.
Fourth-quarter earnings significantly missed expectations, but they do not necessarily negate the broader improving trend for the oil majors.
The oil majors are expected to post $80 billion in organic free cash flow in 2018, but spending is expected to be modest.