Exxon CEO Warns Oil Markets May Be ‘Tight’ for Up to Five Years https://t.co/jY7pkZDrOR
— Bloomberg Energy (@BloombergNRG) June 21, 2022
AFP: Oil turbulence could last five years, ExxonMobil boss warns
Consumers must be prepared to endure up to five years of turbulent oil markets, the head of ExxonMobil said Tuesday, citing under-investment and the coronavirus pandemic.
Energy markets have been roiled by the Ukraine war as Russia has reduced some exports and faced sanctions while Europe has announced plans to wean itself off dependency on Russian fossil fuels in coming years.
Speaking ahead of ExxonMobil's unveiling as the fourth international partner for Qatar's natural gas expansion, chairman and chief executive Darren Woods said major uncertainty lies ahead.
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Update: Exxonmobil CEO expects tight oil market to last years (Nasdaq/Reuters)
WNU Editor: The ExxonMobil boss is stating the obvious. Government anti-fossil fuel measures/policies/regulations/and taxes have consequences.
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