Commentary In the past three months, oil prices have corrected dramatically as global oil demand has eased and concerns about a Chinese slowdown have added to a possible European recession. The picture of demand growth may be weakening, but the global supply-demand balance remains tight, and years of underinvestment may bring elevated oil prices for…
Oil Market Could Remain Tight For Next 5 Years: ExxonMobil CEO
June 21, 2022
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ExxonMobil CEO Darren Woods does not see oil prices cooling down over the next few years, he said while speaking at the Bloomberg Qatar Economic Forum in Doha on Tuesday. Woods said that it would take some time for the volatility in the energy market to end. He is expecting oil markets to remain tight…
US Shale Producers Lock in Future Sales as Oil Prices Rise to One-Year High
NEW YORK/HOUSTON—U.S. shale producers are taking advantage of the oil market’s rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said. U.S. crude futures this month jumped above $50 a barrel to the highest since February. The rally has sparked optimism among shale…
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