While the OPEC+ group is trying to manage oil supply to the market, the world’s largest international oil companies are raising their production, with the U.S. supermajors hitting record highs. Most companies referred to as Big Oil – ExxonMobil, Chevron, Shell, BP, and TotalEnergies – reported last week growing oil and gas production for the third quarter from a year earlier, as they look to grow advantaged lower-cost assets to deliver the energy the world needs. In addition, the European majors have scaled back their renewables…
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