U.S. petroleum consumption has recovered to pre-pandemic levels, but there has been a marked shift from consumer-facing sectors towards industry and freight transportation, mirroring the uneven economic recovery.
China's daily crude throuhgput last month fell to the lowest since May 2020 as independent plants slashed production amid a tighter quotas, high inventories and weakening profits.
U.S. oil major Exxon Mobil Corp (XOM.N), along with Chevron Corp (CVX.N), is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said.
U.S. oil major Exxon Mobil Corp (XOM.N), along with Chevron Corp (CVX.N), is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said.