Financial Performance of Major Oil Companies, 2007-2011

"...Over the period 2007 to 2011, oil prices were volatile. They increased to a record peak in 2008, declined rapidly at the end of 2008 and early 2009, and increased through 2010, and remained
high during 2011. The total revenues and net incomes of the five major oil companies followed a
similar pattern. However, the companies’ production of both crude oil and natural gas, their two
key products, remained largely unchanged in the face of volatile prices, suggesting that for these
firms, market price and the production of key products are not closely related..."