By David Fessler On the surface, the U.S. has much to celebrate. Oil companies here have been pumping record amounts of crude thanks to the shale boom.
But if you look into the five-year price performance of the nine largest U.S.-based oil producers, you’ll see that the best performer – Chevron Corp. (NYSE: CVX) – is down 9.39%.
The worst performer is Devon Energy Corp. (NYSE: DVN) – down 70.76%.
Investors who own these companies are scratching their heads. How can they have such terrible returns when the demand for oil continues to increase?
In 2018, according to BP’s “Statistical Review of World Energy 2019,” the world …read more
