Analysts at UBS are projecting a third quarter earnings slide of 16 percent year-over-year, for United States integrated oil companies and a 6 percent fall for European firms that are “unlikely to be a source of renewed optimism although equally we detect no great expectations among investors.” The top European picks include Eni (NYSE:E), Statoil (NYSE:STO) and BG Group, while domestically, UBS prefers Chevron Corporation (NYSE:CVX) over Exxon Mobil Corporation (NYSE:XOM).
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