What's Behind Oil's Huge Move to the Downside?

The video discusses the recent 8% drop in WTI oil prices, influenced by global growth concerns and trade war impacts. OPEC's potential actions to stabilize prices are considered. Exxon Mobil's earnings, driven by increased output in the Permian Basin and refinery operations, are analyzed. Chevron's financial performance and buyback program are also highlighted.

What was the main reason for the recent drop in WTI oil prices?

• Increased oil production by OPEC

• Trump's tweets and trade war concerns

• A new oil discovery in the Middle East

• Natural disasters affecting oil rigs

What was a significant factor in Exxon Mobil's earnings performance?

• New partnerships with smaller competitors

• Reduction in capital expenditure

• Increase in output from the Permian Basin

• Decrease in natural gas prices

How did Exxon Mobil manage to smooth out their earnings despite oil price swings?

• Through government subsidies

• By cutting down on employee costs

• Through a rebound in their refinery operations

• By increasing their natural gas production

What strategy did Chevron continue that differed from Exxon Mobil's approach?

• Increasing capital expenditure

• Expanding into new markets

• Continuing their buyback program

• Reducing oil production

What was the expected annual rate of Chevron's buyback program?

• $7 billion

• $5 billion

• $3 billion

• $2 billion