This glut could lead to lower oil prices for consumers ... stating that we’re headed straight for a historic supply-demand gap in oil markets of a magnitude that has only been seen twice since ...
ExxonMobil announced plans to boost spending on oil production, doubling down even as other producers pull back amid fears of an oversupplied global market.
Oil markets were on edge over a potential supply glut in 2025. While the OPEC recently agreed to extend its ongoing supply cuts until at least mid-2025, production elsewhere could potentially increase ...