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Market Volatility Complicates Outlook As Opec Ponders Renewed Cuts
...ch price fluctuation within one year “is not healthy for producers, and it is definitely not healthy for consumers” (MEES, 17 November 2017). If Brent’s $22.30/B price range in 2017 was bad, this year’s $23.70/B is worse still. Omani Oil Minister Muhammad al-Rumhy said at Adipec that these ex...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
IEA Doubts US Shale Can ‘Single Handedly’ Meet Demand Growth
...ntinues to grow, albeit at a slower rate, out to the end of the IEA’s forecast period in 2040. Though the growth in renewables means use of oil in the power sector will fall by 2.5mn b/d versus 2017 levels, and use in cars will remain more or less level (with falling consumption in developed countries ca...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
IEA, Opec Diverge On Market Outlook Ahead Of Key Vienna Meet
...tionale is clear. Participants to the agreement are currently aligned that an extension is required. But, with demand set to outstrip supply for the remainder of 2017, they may be less inclined to back an extension in early-2018. And the more bearish IEA report says that “the market balance in 2018 does no...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
More Pain To Come As Iea Sees $80/B ‘Rebalance’ But Not Till 2020
...2015-2020 CHANGE IN US TIGHT OIL OUTPUT AT VARIOUS OIL PRICES* (MN B/D) MARKET TO REBALANCE IN 2016? 2017? Mr Falih, the UAE’s Mr Mazru’i and Opec’s Mr Badri all are forecasting that balance will be restored to the global oil market in 2016. Mr Badri says that he ex...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
OPEC To Ride Out ‘Shale’ Storm And Reemerge Stronger
...s 2013 annual World Oil Outlook (WOO) released late last week, OPEC says it envisages the call on its crude to steadily decline year-on-year until 2017, at which point demand for its oil will hit 28.8mn b/d, some 1.5mn b/d down on current levels of 30.3mn b/d. This would represent just a 31% share of...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013