Are Lower Oil Prices Jeopardizing Big Oil’s Shareholder Payouts?

The world’s biggest international oil companies have enjoyed handsome profits in the past two years as oil prices rose amid supply concerns. Now that the market’s focus has swung to demand concerns, oil prices have dropped in recent months, lowering Big Oil’s earnings.    The record profits of 2022 and the strong earnings in 2023 allowed the top majors – ExxonMobil, Chevron, BP, Shell, and TotalEnergies – to boost shareholder payouts through dividends and share buybacks. But with oil below $80 per barrel…