Big Oil Is Quietly Exploring For More Crude

The International Energy Agency’s Net Zero by 2050 roadmap, issued last year, has become something of a textbook example of bad timing. Just four months later, the agency said the world needs more investment in oil exploration because of dwindling OPEC spare production capacity. Besides these mixed signals, the agency also lashed out at OPEC+ last year, accusing it of keeping the global oil supply artificially tight to keep prices high. At first glance, one might think the world’s most influential energy body, per the FT’s Tom…