Hess: OPEC’s Back In The Driver’s Seat

OPEC is “back in the driver’s seat” as the world’s most powerful swing producer, Hess Corp CEO John Hess said on Thursday at a Miami conference. According to Hess, U.S. crude oil production will average 13 million bpd over the next few years, where it will plateau, as investors pressure U.S. oil companies to focus on returning money to shareholders instead of investing in aggressive growth strategies. It’s what we’ve been hearing for most of the year; U.S. oil companies are skittish about spending what has been…