Lewzer: "I need you to invest 100 billion dollars in Venezuela!"
Big Oil: "No."
#5 | POSTED BY REDIAL
DialAgain worried about Canadian oil stocks ..
Top energy executives are weighing telling President Donald Trump that the industry can increase Venezuela's oil output by hundreds of thousands of barrels per day over the coming months, people familiar with the preparations for Friday's White House meeting told CNN. The pledge would be aimed at setting a realistic initial goal for accelerating the nation's output, while preempting demands by Trump for the companies to make massive new investments in rebuilding Venezuela's energy infrastructure.
Trump has claimed repeatedly since authorizing the capture of Nicols Maduro and taking charge of Venezuela's oil sales that the industry is eager to put billions of dollars toward revitalizing the oil-rich country. But major US oil companies have no plans to do so any time soon. Venezuela is still viewed as far too risky to re-enter in the wake of Maduro's ouster, with major questions surrounding the nation's political stability and the White House's plans for "running" the country for the foreseeable future.
@#2 ... given the current glut on the oil market.
Lowering prices is not in Big Oil's wheelhouse. ...
Yeah.
Big Oil is looking for a profit.
But the current oil glut has lowered the cost of oil to the point that is seems to be no longer profitable to find new sources of oil.
Oil's Coming Glut May Be Setting Up the Next Supply Shock
fortworthinc.com
... Wall Street banks, energy analysts, and the U.S. Energy Information Administration (EIA) broadly agree that global oil inventories are building and will continue to rise into early 2026 " typically the weakest demand period of the year.
Forecasts differ on the size of the surplus, but the consensus view is bearish. Many analysts expect oil prices to average below $60 per barrel in 2026 as excess supply weighs on the market.
The findings were detailed in an Oilprice.com market analysis.
Still, several forecasters believe 2026 could mark the end of the imbalance. Goldman Sachs and others have suggested it may be the last year the market works through a glut before fundamentals tighten again. ...
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