re: The first of the oil majors, COP, cuts the dividend

I can't remember if it was COP or CVX, but yes, some of us did comment on the company's defense of dividend statement a few months ago. But when an analyst commented earlier this week about how much the company would have to borrow just to cover the dividend, and sacrifice capex spending, this was a warning sign. The "lower for longer" situation with oil, combined with weakening global GDP, has kept me on the sidelines. I'm watching the majors with great interest, I will enter at some point. But I'd just as soon do that once the dust has begun to settle. The knives are a bit too sharp for me to try to catch right now.