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Looking for the 'wash-out' in Exxon and Chevron
The big decline in oil prices are hitting energy companies' bottom lines big time. On Friday, both Exxon Mobil and Chevron are due to report and we're expecting big falls in earnings per share and revenue.
Trader Serge Berger says we could soon be coming a point when these stocks will start looking attractive again. He's waiting for what he calls a 'real wash-out' in the coming days and large integrated oil companies may soon start to look attractive once again.
02:26 minutes
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