Why The White House Is Wrong About Oil Major Share Buybacks

A White House spokesperson has accused oil majors of plowing profits back into the pockets of executives instead of boosting production.
Oil majors have been boosting production while also buying back shares, with Chevron reporting record U.S. oil and natural gas production in 2022.
U.S. oil production rose last year to the second-highest level on record and stands a good chance of setting a new record high this year. $Camber Energy (CEI.US)$ $Imperial Petroleum (IMPP.US)$ $Chevron (CVX.US)$ $Exxon Mobil (XOM.US)$ $Crude Oil Futures(OCT4) (CLmain.US)$