Forecast
News
January 11, 2018
EIA’s January Short-Term Energy Outlook forecasts Brent crude oil to average $60/bbl in 2018 and $61/bbl in 2019, slightly higher than the $54/bbl average in 2017. In both 2018 and 2019, EIA expects total global crude oil production to be slightly greater than global consumption, with U.S. crude oil production increasing more than any other country.
News
April 28, 2017
The Petroleum Services Association of Canada (PSAC), in its second update to the 2017 Canadian Drilling Activity Forecast, announced its revision of the forecasted number of wells drilled (rig released) across Canada for 2017 to 6,680 wells.
News
April 27, 2017
The boss of Saudi Arabia’s state oil company defended petroleum as the mainstay of the global economy, countering theories that demand will peak within years with his own forecast that consumption will keep growing for decades.
News
April 25, 2017
OPEC needs a year more to accomplish what’s at the moment proving to be mission impossible, according to a veteran oil analyst.
News
April 19, 2017
McKinsey Energy Insights (MEI), the data and analytics specialist that provides insight and support to the global energy industry, has released its latest Global Oil Supply and Demand Outlook, which identifies five potential supply and demand scenarios. If the market was to follow MEI’s business as usual scenario, it would expect oil prices to revolve around $60–$70/bbl over the next three years and balance close to $65–$75/bbl by 2030.
News
April 17, 2017
In 2017, North Sea crude and condensate production will increase by roughly 50,000 bpd to an average of almost 2.9 MMbpd according to ESAI Energy’s newly published Europe Watch report.
News
April 06, 2017
Kuwait’s in the best position of major oil exporting nations in the Middle East, Africa and parts of Europe to have a balanced government budget this year with oil forecast to average $52.50/bbl, according to Fitch Ratings Ltd.
News
March 29, 2017
A surge in hedging contracts is helping U.S. shale drillers ride out the turmoil in global oil markets this year. Next year may not be so easy.
News
March 09, 2017
By 2035, the U.S. may have surpassed Australia and Qatar to become the world’s biggest supplier of liquefied natural gas, according to the CEOs of Canadian energy giant Enbridge and LNG exporter Tellurian.
News
March 08, 2017
Oil prices will tumble to $40/bbl if OPEC doesn’t extend its pact later this year to cut output, according to one of the most prominent producers in the shale patch.
News
March 06, 2017
OPEC will increase its production capacity by about twice as much as previously thought, led by expansion in Iran and Iraq, the International Energy Agency (IEA) said.
News
March 03, 2017
More oil price stability and significant internal restructuring of the sector are the key drivers leading a recovery in energy M&A with a peak in 2018, according to a new forecast by Baker McKenzie.
News
February 28, 2017
Russia will keep Europe hooked on its natural gas for years to come, using its huge reserves and lower production costs in Siberia to maintain attractive prices, according to state-run Gazprom.
News
February 26, 2017
The exact dollar value of Saudi Aramco may be up for debate, but the listing of the world’s biggest company will be priceless for the kingdom’s markets.
News
February 21, 2017
Crude prices could plunge toward $30/bbl -- a rout of about 40% from current levels -- unless OPEC extends production cuts that are propping up the market, ABN Amro Bank NV said.
News
February 21, 2017
Brent oil extended gains to $57/bbl as Citigroup raised its price outlook and OPEC’s top official said the group will push for full compliance with supply cuts.
News
February 20, 2017
The Brent crude price benchmark for millions of barrels of physical crude sales each day is poised for its biggest shakeup in a decade with a new grade added to the mix from January next year.
News
February 14, 2017
EIA’s recently released Annual Energy Outlook 2017 (AEO2017) Reference case projects that U.S. tight oil production will increase to more than 6 MMbpd in the coming decade, making up most of total U.S. oil production.
News
February 08, 2017
ABB Ltd. said the first signs of order growth in two years are not enough to call a turnaround as dwindling demand from the oil and gas industry and an increasingly uncertain political situation weigh on the outlook.
News
February 06, 2017
Donald Trump and global crude producers are set to take prices on a bumpy ride this year, according to the world’s biggest independent oil trader.
News
February 02, 2017
British subsea companies are expecting to increase overseas activity in the next 12 months, according to a survey conducted by industry body, Subsea UK.
