Occidental Says Outlook for Shale Growth ‘Dire’: CERAWeek Update
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It’s the second day of CERAWeek by S&P Global in Houston, one of the energy industry’s biggest annual gatherings and one that hasn’t been held in person in three years because of the pandemic.
The event is taking place amid massive gyrations in global energy markets following Russia’s invasion of Ukraine. On Monday, Exxon Mobil Corp. Chief Executive Officer Darren Woods warned conference attendees that oil and other energy markets are in for more turbulence. Hess Corp.’s CEO John Hess called on the U.S. and its international allies to release more oil from strategic reserves, while Chevron CEO Mike Wirth said there’s no evidence of physical oil or gas shortages yet.