Author: omc_admin

Executives from oil and gas firms have revealed where they expect the West Texas Intermediate (WTI) crude oil price to be at various points in the future in the third quarter Dallas Fed Energy Survey, which was released recently. The survey asked participants what they expect WTI prices to be in six months, one year, two years, and five years. Executives from 127 oil and gas firms answered this question and gave a mean response of $63 per barrel for the six month mark, $64 per barrel for the year mark, $69 per barrel for the two year mark, and…

As human and AI-generated “slop” floods the internet, Perplexity says it’s fighting back by making Comet — its AI-native browser that normally costs $200 a month — free for anyone in the world, forever.”We want to build a better internet, and that needs to be accessible to everybody,” Perplexity CEO Aravind Srinivas told Business Insider at a launch event in San Francisco on Wednesday.The free version of Comet, which launches today, will come with rate limits, Srinivas made clear.Comet can summarize webpages, pull key details, and wade through links on a user’s behalf. It first debuted in July but was…

The Trump administration plans to continue issuing permits for oil drilling and do other work on “priority conventional energy projects” during the government shutdown but will freeze activities on some renewable energy projects.  The Interior Department, which oversees energy development on federal lands and waters, is furloughing thousands of workers but will keep processing permits for new oil and gas projects, coal leases and other energy work, according to its shutdown plan. The department’s Bureau of Land Management, which oversees about 245 million acres of public land, said staffers handling those issues are exempt from furloughs in part to address…

Brent Technical Analysis Brent now looks like it is testing the $65 level here. If we break down below here, we could get a drop to the $62.50 level. Short-term rallies continue to be sold into, as we’ve seen earlier during the session. Quite frankly, as we have rolled over into the latest contract and in this market, it is the December contract, we just are starting to roll over and show signs of economic weakness. Maybe part of it is a lack of travel, I don’t know, but really oversupply coming out of Russia, OPEC, and the United States,…

The former prime minister Theresa May has condemned a promise made by Kemi Badenoch to repeal the Climate Change Act if the Tories win the next general election, calling the plans a “catastrophic mistake”.She joined other leading Tories, business groups, scientists and the Church of England in attacking the Conservative leader’s announcement, which would remove the requirement for governments to set “carbon budgets” laying out how far greenhouse gas emissions will be cut every five years, up to 2050.May called it a “retrograde” step that upended 17 years of consensus between the UK’s main political parties and the scientific community.…

JPMorgan is standing by Bloom Energy even as its stock trades at a signficant premium on data center demand for its onsite power generation systems. The investment bank maintained its overweight rating and more than doubled Bloom’s price target to $90 per share by December 2026. Bloom shares have gained about 300% this year as its onsite power generation systems are in high demand from data center customers. JPMorgan’s new target indicates that the company’s stock will hold around its current level after closing at $90.19 on Wednesday . Though the bank noted ways in which more upside could be…

Tesla vehicles are parked outside of a dealership on July 24, 2025 in Austin, Texas.Brandon Bell | Getty ImagesTesla reported quarterly vehicle deliveries up 7% over the year prior for the period ended Tuesday, the same day that a key tax credit for buyers of electric vehicles in the U.S. expired.Here are the key numbers:Total deliveries Q3 2025: 497,099Total production Q3 2025: 447,450Shares sank Thursday following the report. Tesla plans to update investors on its third-quarter financial results on Oct. 22.The company reported 462,890 total deliveries in the third quarter of 2024. Tesla saw a decline in production this quarter…

Imperial Oil Ltd has announced a restructuring plan that involves command decentralization and a workforce reduction of about 20 percent in two years. “The restructuring will use a rigorous transition process and is expected to reduce employee roles by approximately 20 percent by the end of 2027”, the Calgary, Canada-based integrated oil and gas company, majority-owned by Exxon Mobil Corp., said in a statement on its website. “As part of this change, Imperial will further consolidate activities to its operating sites, enhancing collaboration, operational focus and execution excellence”. Imperial had about 5,100 regular employees at the end of 2024, according…

Global LNG demand growth will be supported not only by higher power and gas consumption but also by surging demand from the shipping industry, where liquefied natural gas is poised to become key to replacing the dirtier fuel oil and other oil-based marine fuels. Demand for LNG bunkering is expected to at least double by the end of the decade, industry executives and experts have told Reuters.“LNG is great because the infrastructure is there. It’s readily available … maybe later on it’s going to be, hopefully, quite cheap as well,” Tuomas Maljanen, associate director for LNG and new energy at shipbroker…

Berkshire Hathaway has reached a definitive agreement to acquire Occidental Petroleum’s chemical business, OxyChem, in an all-cash transaction valued at $9.7 billion. The sale, expected to close in the fourth quarter of 2025 pending regulatory approvals, represents one of the largest U.S. petrochemical transactions in recent years.  Vicki Hollub, CEO of Occidental Occidental said it intends to use $6.5 billion of proceeds to reduce debt, aiming to lower principal obligations below $15 billion following its late-2023 acquisition of CrownRock. The company noted that the divestment is designed to reinforce its balance sheet while sharpening its focus on oil…