After Years of Buybacks, Big Oil is Drilling Again
Market Intelligence Analysis
AI-PoweredOil supermajors are shifting their focus from buybacks to growth, driven by the realization that oil and gas demand will persist for decades, defying predictions of a decline in demand.
Market impact analysis based on bullish sentiment with 80% confidence.
Article Context
After years of prioritizing returning cash to shareholders, oil supermajors are about to do something few expected: turning to growth as a top priority. The reason: contrary to dominant expectations, oil and gas will continue to be needed for decades. For years, analysts from some of the most reputable organizations have been predicting a pending decline in oil demand specifically, but also gas demand. The predictions, notably from the International Energy Agency, were based on projections about a widespread adoption of electric vehicles that would…
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