Most of the international oil companies listed on the Stock Exchange ended their operations this Thursday with profits, despite the fact that oil prices ended lower.
Crude prices in the international market were quoted at 78.81 dollars per unit in the case of West Texas Intermediate (WTI), a drop of 2.54%, while the benchmark for the North Sea, Brent, stood at 80.54 greenbacks per barrel, a decrease of 1.77 percent.
Carlos Hernández, senior analyst at Masari Casa de Bolsa, commented that the relationship between the price of oil and the shares of oil companies maintains a correlation for medium and long-term performance, since revenues and flows depend on these prices.
At the end of this Thursday, the issuers with the highest increases were the Italian Eni (1.45%) and the British British Petroleum (1.39%). The third place was for the French Total Energies (0.34), the American Exxon Mobil (0.75%), Saudi Aramco (0.66%), the also American Chevron (0.44%) and the growth to a lesser extent was from Royal Dutch Shell (0.31 %) from the Netherlands.
On the contrary, the Spanish Repsol and the Brazilian Petrobras presented falls yesterday of 0.23 and 3.17%, respectively.
Carlos Hernández explained that this is because the results of the oil companies have been positive, coupled with this they have resumed the purchases of shares or some are expanding the buyback fund, and in general a trend of economic growth and energy demand is maintained .
The specialist mentioned that expectations for these firms remain positive. Although more gradual progress is expected considering the rally they have had in recent months. In addition, the positive outlook for energy prices will give them a solid base for growth.
On the other hand, in an environment in which the use of renewable energies has become essential, the emitters of this branch are in a process of adaptation, since “the substitution by clean energies will surely have significant obstacles in terms of capacity that they could support. demand for more time than you imagine, ”said Carlos Hermosillo, an independent stock market specialist.
Reference-www.eleconomista.com.mx