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Oil majors give in to investors with share buyback spree


By Nivedita Bhattacharjee(Reuters) - After almost three barren years for investors who have poured millions into the U.S. oil sector, producers are finally opening the floodgates to a wave of share buybacks that will return money to shareholders this year.U.S. oil production topped 10 million barrels per day earlier this year, approaching a record set in 1970, but until recently many investors in the shale oil revolution were still waiting for their payday. ...

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First Published: Wed, March 14 2018. 19:44 IST