IlluMyFi

It is fairly common nowadays to see relatively near-term estimates for a point at which demand for petroleum-based fuels begins to decline. The term often used to describe this “tipping point” is Peak Oil Demand. When I say “near term,” I mean right around the corner if you look at an estimate published last year by the International Energy Agency-IEA, an intergovernmental agency headquartered in Paris, France, and originally established after the Oil Embargo of 1973 to help cushion against future oil shocks. This agency...

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15.05.24 12:00

by oilprice.com

Consumers Sue U.S. Shale Alleging Collusion to Boost Oil Prices

U.S. shale producers have been preaching and practicing capital discipline since the price crash of 2020 and haven’t deviated from their pledge to focus on shareholder returns instead of oil production growth since then. Some of the biggest independent U.S. shale firms may have started to finally please investors with meaningful returns, but they have angered consumers. Some of these consumers of retail gasoline, diesel, and marine fuels allege that the ‘discipline’ in capital allocation has actually been a collusion to boost...