BP and Royal Dutch Shell reported their latest financial figures for the third quarter and both companies showed some improvement, a sign that the oil markets are starting to find their footing.
A few days ago, some of the other oil majors released third quarter earnings, revealing the ongoing damage being done to the balance sheets of even the largest oil companies. But BP and Shell offered some reasons for optimism for the industry.
…related via ZeroHedge:
Let Crude Crash: US Oil Producers Are Hedging At Levels Not Seen Since 2007