Oil Industry Valuation One of the Lowest Levels in 50 Years
The behemoths of the oil industry, Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Total SA (ADR) (NYSE:TOT) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A) (NYSE:RDS.B) all recently reported a pretty dire second quarter. Profits and operating cash flows fell across the board to such an extent, that one analyst was prompted to ask Chevron Corporation (NYSE:CVX)'s management on the conference . . .
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