Money markets turn on big oil

Rough ride for industry giants after below-par quarterly results show lack of free cash flow and high dividends

Counter-cyclical: ExxonMobil chief executive Darren Woods has bet heavily on big investments in Guyana and the Permian basin, but stock markets are unnerved by negative free cash flow
Counter-cyclical: ExxonMobil chief executive Darren Woods has bet heavily on big investments in Guyana and the Permian basin, but stock markets are unnerved by negative free cash flowPhoto: ANDREW MANGUM
Published 5 February 2020, 17:04Updated 6 February 2020, 14:54