Reported 4 months ago
Analyst Jason Gabelman discusses the recent consolidations in the oil industry, including Hess merging with Chevron and ConocoPhillips acquiring Marathon Oil. Gabelman believes that these mergers will result in larger companies having more control over US oil production, leading to moderate growth and more stable oil prices. This stability is expected to benefit consumers facing tighter budgets and high inflation. The analyst emphasizes that the consolidations will create a healthier environment for shareholders and reduce the volatility in oil prices, ultimately supporting higher and more stable oil prices.
Source: YAHOO