Why European oil companies are doing better than America's | The Economist (Level 1)

Some big oil companies make a lot of money by trading oil. This means they buy oil from others and then sell it at a higher price. Three European companies, BP, Shell, and TotalEnergies, are very good at this. They use information from their many offices, ships, and storage places around the world to decide when to buy and sell. This year, trading could bring them $15 to $20 billion in profit. American oil companies are now trying to do the same, but they need more time to learn. For now, the European companies will stay on top.