#oil

https://www.eia.gov/outlooks/steo/

Global oil prices. We expect the Brent crude oil price will decline significantly in the coming months, falling from $68 per barrel (b) in August to $59/b on average in the fourth quarter of 2025 (4Q25) and around $50/b in early 2026

So it's only gonna get worse in 2026 then, I guess it really is time to jump ship. There was another thread a few months ago asking where halliburton was headed and it seems to me that they want to return to a pure services company, at least stateside. This is why they're purging all manufacturing from here. Seems like the only answer if you work in the manufacturing side is to get out. There is absolutely no future and they're telling us all every time they close another building.

I was told dbs lease on the building only has 1 year left on it. somehow i don't think they will be renewing it.

I have it from a good source (high up in management) that Imperial is being directed by Exxon to reduce headcount. The legality of this is up for debate, perhaps Exxon will acquire imperial, but that’s besides the point. What we know for a fact is 1) Headcount reduction mandated from the top 2) first strategy is closing QP and relocating HQ to Edmonton, this will have the effect of voluntary quitting by about 15%, so IOL hopes, but probably higher. 3) second strategy is combining Kearl/CL under 1 asset which will also result in another 5% headcount reduction.

If you work in QP, get your resume polished, especially if you are not a high performer. Those at other sites that are low performers should also be worried since the high performing QP employees will likely displace you as they make room for them at your site.

Brent is down about 35% since April when the layoff plans were put in place. If I had to guess, more layoffs are going to be needed early 2026 unless prices recover.

Proving again that XOM has talented contracts and negotiating teams. Any body care to share any specifics how the 2% royalties were achieved? Are Guyanese not very sophisticated and generous or is there something more to the story?

What is the implication for ExxonMobil stock and our Upstream Cash Flow?

Story by Богуслав Романенко

Exporters are set to decide on Sept. 7 to begin unwinding a second tranche of production cuts totaling approximately 1.65 million barrels per day (1.6% of global demand), over a year ahead of the original schedule.

OPEC+, which controls about half of global oil production, has significantly shifted its policy since April 2025, moving away from years of output reductions.

https://www.msn.com/en-us/money/markets/opec-to-boost-oil-output-by-1-65-million-barrels-daily

I want to be like him!

https://www.linkedin.com/posts/michael-mustian-6217831a8_energytransition-career-activity-7351836054280208384--XU4

https://www.linkedin.com/posts/timothy-mcminn_processengineers-productstechnolgists-ugcPost-7367738288624828419-f9Kp?utm_source=social_share_send&utm_medium=android_app&rcm=ACoAACDcTUIB78s2Y--p4ekS4nMiEsSVXFqwsNA&utm_campaign=copy_link

Could big oil have to give up equity share to the government to pay back green energy and carbon capture grants given to them? This could lead to a national oil company which the administration would live to have.

The rumors just won’t go away.

https://www.msn.com/en-us/money/markets/bp-gains-amid-takeover-speculation/ar-AA1KARYY?ocid=finance-verthp-feeds

Hear a lot of young people say they’re leaving O&G. Understandable, but if you can hold on til mid-‘21 I think you’ll be surprised at rebound. It’s cold comfort now, but a vaccine will happen, Demand will surge, & industry will recover. Hang in there.

#OOTT #Oil #shale #EFT