Demand for oil and gas will remain robust for years, say energy leaders

It was to be a reunion party for the leaders of the oil industry. Instead, the World Petroleum Congress taking place in Houston this week is a reminder that the company remains mired in uncertainty due to the pandemic.

The Omicron variant has fallen about 14% on oil prices in recent weeks and has created headaches in international travel. Fears that Covid-19 will once again block the global economy are undermining the mood ahead of the big industry event, which was to include Exxon Mobil Corp. CEOs, Chevron Corp. and BP PLC as well as the Secretary General of the Organization of the Petroleum Exporting Countries.