Conflicting signals in the oil market

PROFITS down. Share prices up. Stockpiles up. Oil price also up. At this point in Slugcatcher's weekly contribution to the debate about the petroleum industry the reader is excused for feeling a touch confused by all the conflicting signals from the marketplace.

On the stock market the up/down puzzle was best demonstrated on Friday by ExxonMobil reporting its worst quarterly profit in 17 years, followed by a modest 1% rise in its share price.

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