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Oil settles near 3-year low on weak demand outlook

Oil prices fell sharply as OPEC+ reduced its 2024 and 2025 demand forecasts, overshadowing supply disruptions caused by Tropical Storm Francine and influencing investor sentiment.

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Oil settles near 3-year low on weak demand outlook

Brent crude futures hit a low due to OPEC's demand forecast downgrade, overshadowing concerns from Tropical Storm Francine. Energy stocks fell sharply amid slowing economic signals.

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Exxon, Abu Dhabi's ADNOC to partner in delayed Texas hydrogen project

ADNOC acquires 35% stake in Exxon's Texas hydrogen project, delaying start to 2029 due to tax credit concerns, with revised production goals for hydrogen and ammonia.

• XOM

Exclusive-China's Sinochem plans to exit US shale JV with Exxon, sources say

Sinochem is planning to sell its 40% stake in a U.S. shale joint venture with Exxon Mobil, valued over $2 billion, amidst an industry shift and internal challenges.

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Once-acquisitive Chinese oil giant looks to revive global dealmaking

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Exxon forecasts 2050 oil demand to match today's, 25% above BP estimate

Exxon Mobil predicts crude oil demand will exceed 100 million bpd through 2050, projecting increased production needs, contrasting BP's more cautious emissions reduction outlook.

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Exclusive-Hess Guyana's secret value becomes part of Exxon arbitration, sources say

The article discusses an arbitration case regarding Exxon and Chevron's dispute over Hess's oil assets in Guyana, highlighting valuation, contractual rights, and the impact on both companies.

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Autry Stephens, Texas oil billionaire and wildcatter, dies at 86

Autry Stephens, founder of Endeavor Energy Resources, passed away at 86 after battling cancer, leaving a legacy in the oil and gas industry.

• BP
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• NG
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Harris' energy policy is strategically ambiguous, her aides say

Vice President Kamala Harris's campaign maintains strategic ambiguity on energy policy, balancing climate advocacy with the needs of battleground state voters reliant on fossil fuels.

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Exxon reports 59 layoffs to Texas agency post-Pioneer acquisition

Exxon Mobil laid off 59 employees post-acquisition of Pioneer Resources, despite offering over 1,500 jobs, affecting workers in Texas locations.