Major oil companies seem to have moved through the stages of grief about low prices, finally arriving at acceptance. During the latest round of sector earnings delivered in recent days, Royal Dutch Shell’s boss Ben van Beurden even said oil could be “lower forever”: BP said Tuesday it is targeting a future break-even oil price of $35 to $40 a barrel. The question for investors is whether they and their global peers can protect their precious dividend payouts in this brave new world. Shell’s own results offer some...

Source: Wall Street Journal August 01, 2017 11:37 UTC