AI Summary

The trading divisions of major oil companies are experiencing a surge in profits, despite a decline in overall production. This development is notable because it highlights a shift in the revenue streams of these companies, with trading becoming a significant contributor to their bottom line. The fact that they are able to generate substantial profits from trading, even in a period of low supply, suggests that this sector is becoming increasingly important for them. The implications of this trend are not yet clear, but it is likely to have significant consequences for the industry as a whole.

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