After Years of Buybacks, Big Oil is Drilling Again ...Middle East

OILPRICE - Economy
After Years of Buybacks, Big Oil is Drilling Again
source : OILPRICE ( Middle East ) () 48
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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