World Oil's Daily Brief
The North Face doubles down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage.
Joe Biden's cabinet picks, and his interest in working with China to stage elections in Venezuela, will make 2021 a transformative year for fossil fuels.
As the world focuses on climate change targets, the Middle East doubles down on oil (with U.S. producers' help)
With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bet.
It's a tale of two cities with the EU's largest oil producer swearing off production by 2050, as OPEC+ stalwarts Saudi Arabia and the UAE grapple over who will lead the group's drive to meet the world's, particularly Asia's, recovering oil demand.
Impatient member states, surging Libyan production, and Chinese demand splitting off from the West are creating headaches for OPEC ministers at this week's meeting.
From chess match to street fight: The world's courtrooms are the battleground for the future of fossil fuels
In Alaska, Michigan and Norway, partisans on the left and right are sparring in the courtrooms to implement their vision for the future of energy.
Despite increased drilling activity and strong Q3 results across the board for the supermajors, Exxon Mobil spent the week slashing headcount and planning major asset sales to meet its dividend commitments.
While opinions differ on oil demand and production rates, a fourth week of growth in the rig count appears to prove some projections right, while invalidating others.
Enterprising operators and service companies are positioning to drive a step change in how fossil fuels are explored and produced.
Drilling activity across the board continues to rise, while oil traders expect a long road to demand recovery; Venezuela and Iran continue to flout U.S. trade sanctions; and a recovering Libya adds to OPEC+ challenges.