WorldOil After $80-billion blowouts, mega oil and gas projects are back Investors are about to find out whether the world’s largest oil companies have learned their lesson from $80 billion of cost blowouts in major projects during the era of $100-crude. U.S. cuts oil output outlook as Permian constraints threaten The pace of U.S. crude production growth might be slowing or at least that’s what the government is seeing for now. No dodging the oil bullet as emerging economies risk demand hit Being an emerging-market economy can be tough when oil prices surge and your currency crumbles. EIA expects crude to average $73/bbl during second half of 2018, fall to $69/bbl in 2019 In the July 2018 update of its Short–Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $73/bbl in the second half of 2018 and $69/bbl in 2019. There are fears about an oil spike above $150 Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein and Co. IEA: The gas industry's future looks bright over next five years Strong demand growth from China, greater industrial demand, and rising supplies from the United States, will transform global natural gas markets over the next five years according to the International Energy Agency's latest market forecast. OPEC strife likely at June meeting, ex-Algeria minister says Saudi Arabia and Russia have a difficult month ahead, according to Nordine Ait-Laoussine, president of Geneva-based consultant Nalcosa and former energy minister of Algeria. IEA cuts 2018 oil demand forecast as $70-crude takes a toll The International Energy Agency cut forecasts for global oil demand growth in 2018 as the highest prices in three years put a brake on consumption. ExxonMobil outlines aggressive growth plans to more than double earnings ExxonMobil today outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. Oil dips on forecast for rising stockpiles, Trump trade-war risk Oil dropped for the first time in four sessions on a reported expansion in U.S. crude inventories and the risk of an intensifying global trade war sparked by President Donald Trump.