HOUSTON — Exxon Mobil Corp, the world’s largest publicly traded company, posted a 58 percent drop in quarterly profit, missing Wall Street estimates, as the global recession sliced into demand for crude oil and depressed prices. Exxon and other energy companies have seen oil and gas prices fall sharply from peaks last summer as consumption [...]

The Executive Director of the International Energy Agency (IEA), Nobuo Tanaka, has made public a harrowing forecast that foresees a global energy supply crisis in 2010, when demand is expected to begin rising up once more. Nobuo Tanaka, the Executive Director of the IEA, expects that in 2010, global oil demand will recover and increase [...]

  LONDON — A new report released by management consultancy Arthur D. Little questions the energy sector’s consensus view that demand for oil will rise ever higher, driven in particular by consumption in the so-called BRIC countries, Brazil, Russia, India and China. The report envisions that, as a result of an anticipated public policy shift, oil’s predominant [...]