Oil Outlook, and an Exxon Upgrade

Two top energy researchers discuss the outlook for oil prices, refining margins, and global natural gas prices. They explore the challenges faced by small oil and gas operators and the need for continued investment in the industry. They also mention the shift in focus from ESG and the potential consequences of global conflicts and oversupply. The speakers discuss the resilience of one U.S. major and potential obstacles for Chevron's future performance.