for Oil Demand
Modest OPEC+ production increases push oil prices toward their highest in seven years - and can climb further as investors stay away from the industry.
After the energy crunch caused natural gas, coal and metals prices to spike, analysts believe oil will be next.
As the energy transition gathers pace, the strategies between the world's oil majors have begun to diverge.
As peak demand becomes more obvious and decline sets in, the major producers of OPEC+ could see their incentives shift and potentially set off a scramble for market share.
The White House wants to slash greenhouse gas emissions in half by 2030. But asking the OPEC+ cartel to pump more oil seems to undercut those aspirations.
Oil prices have sunk as concerns grow about the Delta variant.
While U.S. shale has recovered from a brutal 2020, it remains to be seen how long it will stick to its "capital discipline" mantra.
The turmoil at the OPEC+ meeting injects uncertainty into the market—and may presage the challenges ahead.
Exxon's board reshuffle has sent shockwaves through oil companies, as a new era of corporate scrutiny beckons.
The oil industry is booming. But as global financial markets change and the energy transition continues, it might be the industry's last.