In 2024, oil production has surpassed 100 million barrels per day, indicating a marked recovery in the sector. The CEO of Shell, Ryan Lance, has mentioned the possible implementation of significant transformations in the energy sector, which could result in an increase in production. In contrast, the president of Pemex, Claudia Sheinbaum, has promised that the company will not raise its production beyond 1.8 million barrels per day, challenging the interests of some investors.
According to a recent report by Bloomberg, Wall Street investors are adopting a cautious attitude towards key sectors of the green economy, maintaining net 'short' positions in companies related to renewable energy, electric vehicles, and hydrogen. This trend suggests that there is some uncertainty surrounding the future demand for these sectors.
Shell has announced its dual approach of investing in both low-carbon energy solutions and traditional oil production. On the other hand, Chevron has maintained its oil production while allocating significant sums of money to renewable energy initiatives. Recently, BP has abandoned its commitment to reduce oil and gas production, leading to the perception that other companies may follow similar strategies.
Amid the energy transition, companies like ExxonMobil are focusing their efforts on technological evolution and cost reduction rather than decreasing production levels. This adaptation is a trend observed among major oil companies, which seek to integrate sustainable practices into their operations.
In a context where climate change presents itself as the greatest threat, oil companies are looking to adapt to the new market conditions. The pandemic five years ago accelerated the transition towards more sustainable energy production, leading to a revision of the production strategies of some of the leading companies in the sector.
Despite fluctuations in production and demand, oil companies are seeking to adapt to a changing scenario and maintain a balance between traditional production and investments in renewable energies. The uncertainty surrounding future demand for oil and other energy products is prompting these companies to rethink their long-term strategies.
