in the oil and gas space, in brkville.

" Speaking of the shale patch, it was a key talking point for oil price forecasters this year, as usual, but with a twist. Following Donald Trump’s landslide victory in the November elections, a lot of oil market forecasters expected the U.S. oil industry to double down on production growth. It did not take long for the industry itself to dispel the illusion. None other than Exxon’s CEO said there would be no “Drill, baby, drill” unless international oil prices justified such a strategy.

Exxon, along with Chevron, meanwhile, ventured into a new business segment: power generation. Another defining trend of 2024 is that demand for natural gas is soaring as the demand for electricity soars on the proliferation of data centers as Big Tech pursues its artificial intelligence ambitions. Indeed, earlier in the year, the surge in demand for electricity caught power utilities unaware—and that surge will intensify in the coming years. This is where natural gas suppliers come in, and this is why the prospects for natural gas for the medium term are a lot brighter than those for crude oil. This is also why there is talk about a nuclear renaissance."

oilprice.com - Oil Market in Review A Year of Surprises and Shifting Demand