“Oil majors are no strangers to boom-and-bust cycles. But now the challenge may be structural. The rapid adoption of EVs, especially in China, has surprised the industry. Many oil majors now concede that their production will probably peak within the next decade.”

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https://www.ft.com/content/46e6dab5-db5e-4207-b339-aca5dd5c0ea6?utm_source=chatgpt.com