After Years of Buybacks, Big Oil is Drilling Again

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Why This Matters

Oil 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

Market impact analysis based on bullish sentiment with 80% confidence.

Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term

Article Context

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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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Original article published by OilPrice.com on February 19, 2026.
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