Big Oil Is Finally Ready To Boost Spending

All five international oil and gas majors expect to boost their capital spending next year, although capital discipline and higher returns to shareholders will remain the top priorities for ExxonMobil, Chevron, Shell, BP, and TotalEnergies.  Those oil majors—although Shell, BP, and TotalEnergies now prefer to be known as energy companies—have reported strong cash flows and earnings for the past two quarters as significantly higher oil and gas prices compared to last year boosted profits.   Despite some of Big Oil reporting…