Big Oil showed in its latest earnings that it has adapted to the lower-for-longer oil prices and is now making nearly as much profit as it did when oil prices were $100 a barrel. So, is this the golden age of big oil? Goldman Sachs thinks so. If it is, stock prices aren’t showing it. Shares of the world’s largest non-state oil companies have lagged both the recent oil price increases and the general equity market trends—a sign that investors are yet to believe that Big Oil is still a worthy investment case amid the peak oil demand and EV boom narrative. But Goldman Sachs believes that we are at the beginning of a ‘new golden age’ for the seven biggest oil companies — ExxonMobil, Chevron, Shell, BP, Total, Eni, and Statoil. The ‘Seven Sisters’ of Big Oil today, as Goldman dubs them, are set to increase their attraction […]