Chevron Corp. chose West Texas as the site of its first project to provide natural gas-fired power to a data center, the beginning of a new line of business for the oil giant to capitalize on the boom in artificial intelligence.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.85 during the Asian trading hours on Wednesday. The WTI trades with mild gains amid renewed investor confidence after a US government deal. Traders await the American Petroleum Institute (API) weekly crude oil stock report and the OPEC monthly oil market report for November, which will be published on Wednesday.
Curious Minds Corner
What is the gas‑to‑oil ratio (GOR)?
The volume of gas produced per barrel of oil (scf/bbl) under standard conditions.