The CEO of Exxon, a colossal energy firm, forecasts record oil demand this year and next. His bold predictions raise eyebrows because they contradict current and impending oil market futures. Hence, one might wonder what strategy the energy giant is hatching.
Despite Saudi Arabia and Russia slicing production by 3.5 million barrels daily, he anticipates record demand. The logic behind this belief seems to be elusive. Furthermore, a paradigm shift looms that could send shockwaves through global economies.
If people discover oil is abiotic, with an endless supply, the impending ramifications could be significant. The petrodollar, in that case, could experience a drastic devaluation. Thus, the oil sector’s future remains uncertain and intriguing.
