Big Oil Pockets Near-Record Profits but Spending Restraint Signals Long-Term Doubts

Big Oil Pockets Near-Record Profits but Spending Restraint Signals Long-Term Doubts

Big Oil is reaping near record cash windfalls from the eight-month-old Iran war, but Western energy producers’ reluctance to ramp up spending reveals persistent doubts about the industry’s long-term outlook.BP, Chevron, Exxon Mobil, Shell and…