The oil and gas market’s appetite is now shifting. As dismal Q2 financials flood in, lowered market expectations is seeing disastrous quarterlies as bad, and bad quarterlies as okay. Okay financials are met with resounding cheers. And investors are voting with their precious dollars amid the pandemic and rewarding fiscal responsibility with enthusiasm. The best evidence of this is BP, who reported a $17 billion loss for the quarter. Of course, this was to be expected. The oil behemoth also slashed its precious dividend by half, committed to cutting spending, and promised to stop exploration in new countries within the next 10 years. It is also planning to reduce its production by 40% within that time frame. The market cheered these prudent changes, sending BP’s share price higher. Other oil and gas companies who took a different path suffered a different fate. The markets were less […]