It was supposed to be a reunion party for the leaders of the oil industry. Instead the World Petroleum Congress taking place in Houston this week is serving as a reminder that the business remains mired in uncertainty because of the pandemic.
The Omicron variant has lopped about 14% off oil prices in recent weeks and created headaches in international travel. Fears that Covid-19 will once again stall the global economy are undermining the mood ahead of the important industry event, which had been set to include the chief executives of Exxon Mobil Corp. , Chevron Corp. and BP PLC as well as the secretary-general of the Organization of the Petroleum Exporting Countries.
