The world’s largest oil companies are set to report next month another set of strong quarterly earnings amid significantly higher oil prices and global oil demand in the second quarter compared to the same period last year. Europe’s largest oil firms—Shell (-1.37%), BP (-1.37%), TotalEnergies (-0.60%), Eni (-1.26%), and Repsol (-2.14%)—had already seen solid earnings for the first quarter as lockdowns eased and oil price rose with a tightening market. For the second quarter, results would be higher, and certainly much higher than for the second quarter of 2020. Brent Crude prices averaged nearly $65 per barrel in April 2021 and $68.53 in May 2021, with prices in June holding on to above $70 so far. To compare, the average price of Brent was just $18.38 a barrel in April 2020, $29.38 in May, and just over $40 in June 2020. Out of Europe’s top five oil companies, BP […]