US big four oil companies’ debt level hit records highs amid oil sell-off

The big four US oil companies are facing mountains of debt as they struggle with oil sell-off that has lasted for almost two years.

As per the WSJ report, Exxon Mobil Corp., Royal Dutch Shell PLC, BP PLC and Chevron Corp. hold a combined net debt of $184 billion—more than double their debt levels in 2014.

That should not come as a surprise since oil prices began their decline in July 2014, when prices were trading around $100 levels.

However, the huge debt figure means their ability to pay dividends and conduct exploration projects is under question.