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Exxon, Chevron make big oil acquisitions in the face of uncertain future for fossil fuels

Oil giants Exxon Mobil and Chevron have recently announced major acquisitions of oil companies, expanding their oil and gas assets. Some analysts see these acquisitions as big bets on a fossil-fueled future, while others argue the moves could be viewed as consolidation in an industry that may be on the decline. Those conflicting reads come amid similarly dueling…
New Mexico United States North Dakota Antoine Halff Fernando Valle Tom Kloza
Source: yahoo.com

Analysis-Oil inventory drops set stage for higher prices

Oil inventories are beginning to fall in some regions as demand outpaces supply constrained by deep production cuts from OPEC leader Saudi Arabia, providing support for prices which are expected to rise in coming months. JP Morgan analysts said this month that oil inventories - which include crude and fuel products - now play a bigger role in determining oil prices than the U.S. dollar because Western sanctions on Russia have accelerated oil trading in other currencies. Both the International ...
United Arab Emirates United States New York Al Fujayrah Saudi Arabia Simon Webb
Source: yahoo.com

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