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Why U.S. oil companies may be tempted to purchase European rivals on the cheap

Need to Know Last Updated: Jan. 25, 2023 at 8:41 a.m. ET First Published: Jan. 25, 2023 at 6:42 a.m. ET Critical information for the U.S. trading day Big Oil can get bigger if it buys overseas. Getty Images There’s been a pretty good run in the stock market, at least when the exchanges are

why-us.-oil-companies-may-be-tempted-to-purchase-european-rivals-on-the-cheap

Need to Know

Critical information for the U.S. trading day

Big Oil can get bigger if it buys overseas.

Getty Images

There’s been a pretty good run in the stock market, at least when the exchanges are functional. Nomura’s Charlie McElligott explains that investors have had to “grab” assets due to repricing “right-tail” outcomes higher, as U.S. inflation is cooling, China’s reopening and Europe is avoiding a deep recession.

How long that process plays out is a question, but the call of the day looks specifically at the oil sector. The European-listed integrated oil companies trade at a more than 40% discount to their U.S. peers, according…

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