Analysts: Rising production prices hurt Big Oil's earnings

08/5/2013 | Associated Press, The

ExxonMobil, Royal Dutch Shell and BP posted disappointing earnings last week, partly because of rising production costs, observers said. Finding and producing oil in increasingly remote areas can be costly, and it is cutting into oil companies' bottom lines, analysts said. "Even though oil prices are $100 or higher, the returns on investment aren't what they used to be," said Edward Jones analyst Brian Youngberg.

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Associated Press, The

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