Rather than jockeying for an advantage in their weakened state, the two longtime rivals are set to work together more and more.
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Last week the Big Oil companies weighed in with their earnings reports, and it was mostly a pretty sorry assembly.
Fossil fuel producers and OPEC have rained on the IEA’s parade, offering wildly different projections for future energy demand.
ExxonMobil forecast that oil demand will remain above 100 million barrels per day in 2050, roughly the same as current levels.