Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.
Tag: Production
Tesla’s Sales Slip as It Readies Factories for New Models
Analysts expected a decline in sales for the quarter. Still, the dip may raise concerns about flagging demand.
Russia and Saudi Arabia’s Oil Partnership Shows Strain
Analysts said the countries’ mutual need to keep energy prices high would help them maintain close ties, despite signs that Moscow has undercut previous deals.
Gasoline Prices, a Source of Pain Last Year, Have Come Way Down
Reasons include a stronger supply of oil and weaker-than-expected demand, energy experts say. Some people are saving hundreds of dollars on fuel.
Why Russia Has Such a Strong Grip on Europe’s Nuclear Power
New energy sources to replace oil and natural gas have been easier to find than kicking the dependency on Rosatom, the state-owned nuclear superstore.
Ukraine Needs Shells, and Arms Makers Want Money. Enter the E.U.
Ukraine is firing artillery shells faster than manufacturers can make them. Brussels is working on a plan to increase production by guaranteeing big advance purchases.
Pentagon Will Increase Artillery Production Sixfold for Ukraine
The Army’s top acquisition official says production of the 155-millimeter shells badly needed by Kyiv will rise to 90,000 a month in two years.
Oil Prices Slide as Investors Worry Energy Demand Is Slowing
The U.S. benchmark oil price fell to about $80 a barrel on Friday, and gasoline prices in some states are now close to $3 a gallon.
Saudis Find Sympathetic U.S. Ears at ‘Davos in the Desert’
A Saudi decision to support a cut in oil output infuriated Washington. But at an investment conference in Riyadh, there was plenty of praise for the kingdom.
Biden’s Choice After OPEC Cuts: Woo Saudi Arabia, or Retaliate?
The announcement by the Saudi-led OPEC Plus energy cartel that it would slash oil production was widely seen in Washington as a stab in the back of President Biden.