Bloomberg Oil kicked off what promises to be a turbulent week of trading by plunging to a five-month low as a continued increase in Libyan crude production coincided with a wave of new virus-lockdown measures in Europe. The double whammy of falling demand and growing supply pushed futures in New York down as much as 6% in Asian trading. That …

Bloomberg Exxon Mobil Corp warned it may take up to $30 billion in writedowns on natural gas fields acquired more than a decade ago, and reported a third straight quarterly loss. Exxon is confronting one of its biggest crises. If the company takes the full $30 billion impairment, it will be the industry’s worst in more than a decade, according …

Bloomberg Chevron Corp posted a surprise profit as the oil supermajor slashed capital spending to cope with the pandemic-driven collapse in crude demand. The California oil titan posted adjusted per-share earnings of 11 cents for the third quarter, outperforming the average 27-cent loss expected by analysts in a Bloomberg survey. Times are tough for the industry and Chevron is willing …