Rising U.S. production weighed on oil prices in the first quarter compared to the same period last year, and those lower prices, combined with weak refining margins, impacted the revenues and net profits of many of the world’s largest listed companies in the oil industry. According to data compiled by Anadolu Agency from the Q1 2019 reports of the 12 top listed companies in the oil industry—ExxonMobil, Chevron, ConocoPhillips, Halliburton, Schlumberger, Baker Hughes, BP, Royal Dutch Shell, Total, Eni, Equinor, and Rosneft—the combined net income and revenues at those companies were lower in the first quarter this year compared to Q1 2018. According to Anadolu Agency’s calculations, the combined revenue of these 12 companies declined by 4.63 percent annually to some US$393.5 billion in Q1 2019. The combined net profits dropped by 4.45 percent—to US$23.6 billion from US$24.7 billion for Q1 2018. Shell was the top performing company with […]