OGJ NEWSLETTER

Petroleum companies are likely to report a big drop in first quarter earnings because of depressed oil prices. However, a surge in products demand is pulling up crude prices and likely sets the stage for improved earnings, especially downstream, in the second half. That seems to vindicate OPEC's strategy of hewing to market share and letting an improving world economy, led by the U.S, be the engine pulling oil revenue growth back up the hill.

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