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Big Oil on stronger ground, poised for rebound

If crude prices stay above US$40 a barrel, dividends and stock prices of US oil majors should be secure

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A Chevron Corp refinery in Richmond, California. Next year and 2018 "look to be an inflection point for Chevron", said Phil Gresh, an analyst with JPMorgan.

New York

BIG Oil is clawing its way back. After a heart-stopping plunge in the price of crude over the last two years, along with slashed dividends and the elimination of tens of thousands of jobs, the biggest oil companies are proving surprisingly adept at again pumping profits, as well

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