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ConocoPhillips sees global oil demand returning, executive says
U.S. oil producer ConocoPhillips COP.N sees global demand returning to 100 million barrels per day and growing from there, a senior executive said on Thursday. The view stands in contrast to rival BP Plc BP.L, which sees the coronavirus pandemic leaving a lasting effect on global energy demand, though ConocoPhillips still expects "quite a bit of uncertainty next year," Senior Vice President Dominic Macklon said during a Q&A with Raymond James. Capital spending in 2021 will be “somewhat below” its original planned 2020 level of $6.6 billion, Macklon said. The hardest-hit area of the oil industry in 2020 has been ... (full story)