Forecast
News
November 13, 2019
While the current growth rate of 1 MMbpd -- or about 1% -- will hold for the next five years, it will ebb to just 100,000 bpd in the 2030s, the agency said.
News
October 16, 2019
The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries all see global oil inventories building in the first half of next year, as they almost unanimously cut their forecasts for oil demand growth for 2019 and 2020.
News
October 10, 2019
The U.S. Energy Information Administration (EIA) forecasts lower crude oil prices in the fourth quarter of 2019 and in 2020 despite tighter global balances.
News
September 24, 2019
“Energy consumption was greater in Asia than in any other region in 2018, and we project that consumption will almost double between 2018 and 2050, making Asia both the largest and fastest-growing region in the world for energy consumption,” according to Linda Capuano, EIA administrator.
News
September 24, 2019
The Norwegian Petroleum Directorate report states production in August was below forecast due to technical problems and maintenance work on some fields.
News
September 12, 2019
Demand for the group’s crude in the first half of 2020 will be 1.4 MMbpd below its August output as production surges from their competitors, including the U.S.
News
September 04, 2019
The rise of a huge new Norwegian oil field is poised to give North Sea output one of its biggest boosts in years. The surge won’t last.
News
September 02, 2019
CGG announced that its third quarter 2019 segment revenue is expected to be above $350 million, based on strong multi-client sales in the range of $160 million (including transfer fees) and steady demand for Geoscience technology and equipment.
News
August 19, 2019
Profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs. Margins have expanded around 40% since late April as International Maritime Organization rules that prohibit ships from using dirty fuel from Jan. 1 are set to bolster diesel demand, while cutting fuel oil use.
News
August 16, 2019
Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth and the long-running trade war, even though supplies will be tighter than previously thought, OPEC said.
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.
