Exxon and Chevron, the competitors turned into freenemies, face

The largest oil companies in America, Exxon Mobil and Chevron, will report their profits in front of the bell this morning, and analysts expect profits in both short barrels. In fact, they may be the worst since 2021, when the epidemic has diverted a large share of human behavior that requires energy consumption on super -pajamas from pajamas on the kitchen table.

Instead of hiking for an advantage in their weak state, competitors are scheduled to work for a long time to work together more and more in the main exploration initiatives after a tense legal confrontation earlier this year made them practical.

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Oil, like blood, extends thicker than water, as well as blood, can re -compete with Exxon Chevron to the same family. The two companies are the product of the Supreme Court of 1911 Separate From the industry Titan John D. Rockefeller’s Standard Oil, which the judges ordered to divide into 34 different entities at the height of trust Progressive era.

As competitors, they also feel the same pain. In the second quarter, this came from the OPEC+ oil group, which decided to increase production sharply in July-something they have Agreed To continue this month. This helped to push oil prices to its lowest level for the largest extensions during the three months from April to the end of June. Hence, the collective projection of the Wall Street, collected from analysts by the LSEG data provider, will report 6.7 billion dollars of a quarter modified profits, a decrease of about a quarter of a quarter, and Chevron $ 3 billion, a decrease of approximately one third. For one last month, Exxon warned that she expected to get $ 1.5 billion in profits per quarter due to low oil and gas prices. However, with both companies appointing to report a quarter of a forced, Chevron moved her business to her best site, and Exxon will have to play along:

• Two weeks ago, in a huge batch of her future production and cash flow, Chevron closed her acquisition of $ 53 billion after her victory over Exxon in arbitration. The deal means that it will take 30 % HESS share in the massive Guyana project-with about $ 1 trillion of reserves and $ 30 for a barrel-of-run-run, which has been in vain that he had the right to buy his competitor.

• But the situation does not end there. Last month, the two companies also led a $ 34 billion memorandum of understanding with Indonesia to work with the country -run Bertamina in the country to increase production and increase technological exchanges between the archipelago nation and American oil specialties.