ConocoPhillips (NYSE:COP) matched the record performance amongst its energy major peers, announcing $7.4billion in quarterly profits, a near-doubling of its buyback programme and boosted dividends to shareholders.
The US government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves.
The Biden administration is poised to issue new cybersecurity regulations for pipelines and liquefied natural gas facilities in the aftermath of the April hack that temporarily paralyzed the nation’s biggest liquid fuel conduit.
