Total SE returned to profitability in the third quarter as the global economy recovered from lows brought on by the Covid-19 pandemic, but the company continues to face low global commodity prices and uncertainty as the year comes to a close. 

The French supermajor took an $8.1 billion impairment in the second quarter when commodity prices declined precipitously as the company confronted what CEO Patrick Pouyanne called “exceptional circumstances” amid the coronavirus outbreak. 

The third quarter was an improvement as oil prices were above $40.00/bbl and fuel demand returned for transportation, Pouyanne said. However, the environment was still mixed as crude, natural gas and liquefied natural gas (LNG) prices remained challenged.  

Third quarter oil prices were 31% lower...