Today Chevron announce increased dividends, bonus pay for executives, and an additional 75 billion in stock buybacks. Plans for an increase in drilling activity?.....Silence.
Why do that? They've got a good thing going. They've regained control of the market and will keep supplies tight.
OPEC has made their point crystal clear by saying that $90 oil makes them smile. $80 oil is acceptable but it will never again go below $70 and they will most certainly see to it that it doesn't.
Why do that? They've got a good thing going. They've regained control of the market and will keep supplies tight.
OPEC has made their point crystal clear by saying that $90 oil makes them smile. $80 oil is acceptable but it will never again go below $70 and they will most certainly see to it that it doesn't.