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Profit Rate For Oil Unlikely To Continue
New York analysts warn that oil company profits, boosted by a six month surge, may slow in the second half of the year. Exxon Texaco Mobile Gulf Standard Oil Indiana and Atlantic Richfield posted large gains, aided by higher crude prices and inventory profits amid limited domestic price controls. Demand is softening abroad and domestically, with some expect pressure on prices and continued but diminishing earnings. tax reform concerns loom over industry profits.
MENTIONED IN THIS ARTICLE
Josh Fitzhugh
NEW York (Ap
Charles Maxwell
C. J. Lawrence
Eixxon Corp
General Motors
Exxon
Texaco Inc
Mobile Oil Corp
Gulf
Standard Oil Co
Indiana
Atlantic Richfield Co
Arco
United States
Continental Oil Co
Sam Schwartz
Europe
Schwartz
Conoco
Howard Blauvelt