The relationship between big oil and big corn has been tenuous at best for years, but with historic declines in fuel consumption due to COVID-19, the fight has reignited in a major way. Oil refiners and their allies from the Gulf Coast and Pennsylvania are in a serious policy battle with ethanol producers, corn farmers […]
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Chevron and ExxonMobil highlighted an aggressive strategy for drilling in the Permian Basin over the next five years to their investors this week. Exxon is aiming to increase production to 1 million barrels per day while Chevron is targeting an additional 900,000 barrels per day, all by the end of 2024. The presentations from both […]
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WTI oil prices rose Monday morning to $56.94/barrel due to a barrage of bullish headlines which puts this year’s oil rally north of 22% and climbing.
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Wood Mackenzie (WoodMac), a global energy, chemicals, renewables, metals and mining researching and consulting firm, states companies need to raise investment into new production by 20%. Oil and gas companies need to increase annual investment before a supply demand in 2025. The investment could reach about $600 billion to ensure companies sustain production and growth […]
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November WTI traded higher by $1.36/bbl overnight, but a Presidential tweet has reversed the course.
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