Exxon forecasts production of 3.8 million barrels of oil equivalent per day (boepd) in 2024, from 3.7 million this year, as it bets on a lift from the Permian shale basin and Guyana.
Spending on new projects will expand to between $23 billion and $25 billion next year, with a range that has a mid-point spending of $24.5 billion annually from 2025 through 2027.
I wonder what the growth rate of oil consumption is.
Well we got new world records in oil and gas consumption. Wait till China, India and South Africa decide they want to use even a fraction of what we use in developed nations…
it’s crazy that the US still leads the oil consumption charts. it’s possible that’ll never change if others don’t sink money into the same infrastructure decisions the US did