http://www.worldoil.com WorldOil Oil prices continue to slide on growing U.S. stockpiles https://www.worldoil.com/news/2020/5/28/oil-prices-continue-to-slide-on-growing-us-stockpiles The American Petroleum Institute reported that stockpiles expanded by 8.73 million barrels last week, according to people familiar with the data, raising questions about the strength of the market’s return to balance. Chevron’s cost-reduction measure may eliminate up to 15% of workforce https://www.worldoil.com/news/2020/5/27/chevron-s-cost-reduction-measure-may-eliminate-up-to-15-of-workforce Chevron’s cuts equate to about 6,000 of its 45,000 non-gas station employees. It’s “streamlining our organizational structures to reflect the efficiencies and match projected activity levels,” the San Ramon, California-based company said Wednesday in a statement. Exxon’s sharehlders say no to appointing an independent chairman https://www.worldoil.com/news/2020/5/27/exxon-s-sharehlders-say-no-to-appointing-an-independent-chairman Pressure for Exxon to appoint an independent chairman, separate to the CEO, has been building for years. Exxon beefed up the powers of its lead director earlier this year in response to some shareholders’ concerns. Oil prices climb on prediction of swift demand rebalance https://www.worldoil.com/news/2020/5/26/oil-prices-climb-on-prediction-of-swift-demand-rebalance Oil has surged more than 80% this month as demand returned following the easing of lockdown restrictions in some countries, while output cuts have started to chip away at the oversupply. IEA chief says low oil prices will take demand beyond pre-crisis highs https://www.worldoil.com/news/2020/5/25/iea-chief-says-low-oil-prices-will-take-demand-beyond-pre-crisis-highs “In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,” Fatih Birol said in an interview. Daily Brief podcast: A look ahead at the coming week in oil and gas, May 25-29 https://www.worldoil.com/news/2020/5/22/daily-brief-podcast-a-look-ahead-at-the-coming-week-in-oil-and-gas-may-25-29 Key trends for the coming week, including how industry groups' response to low oil prices differ dramatically in the U.S. versus other producing nations, China's big plans for its economy, and investment analysts turning their backs on key sectors of the industry. Putin sets deadline for plan to support Russian oil industry https://www.worldoil.com/news/2020/5/22/putin-sets-deadline-for-plan-to-support-russian-oil-industry Russian President Vladimir Putin gave his government until June 15 to come up with a plan to support the country’s oil industry while output is slashed under an agreement among the world’s main producers. Distressed oil drillers find major analysts dropping stock guidance https://www.worldoil.com/news/2020/5/22/distressed-oil-drillers-find-major-analysts-dropping-stock-guidance The smallest shale oil drillers have endured their fair share of pain in this spring’s energy collapse and, with ailing stock prices, analysts are finding it even tougher to cover the group. High premiums, price swings driving decline in shale hedges https://www.worldoil.com/news/2020/5/21/high-premiums-price-swings-driving-decline-in-shale-hedges After oil’s crash below zero, explorers face hefty premiums for the financial instruments they rely upon to insure against price swings. Meanwhile, they’re also unwilling to lock in future supply with forward prices for crude remaining lackluster. Daily Brief podcast: Strategies for navigating capital markets to outlast the downturn https://www.worldoil.com/news/2020/5/21/daily-brief-podcast-strategies-for-navigating-capital-markets-to-outlast-the-downturn Arindam Das discusses where energy sector companies must focus to meet capital markets' new expectations, both to survive the downturn and to act advantageously as stabilizing markets present new opportunities.