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Oil Market About To Enter Supply Deficit
Oil Market About To Enter Supply Deficit In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s […]
World Bank Warns Of Extreme Volatility In Oil Markets
World Bank Warns Of Extreme Volatility In Oil Markets After several months of oil price rises and then a sharp reversal over the last few weeks, world oil markets are in for more heightened volatility next year because of scarce spare production capacity among OPEC members. This warning comes from the World Bank, which in […]
Alberta Orders “Unprecedented” Oil Output Cut To Combat Crashing Prices
Alberta Orders “Unprecedented” Oil Output Cut To Combat Crashing Prices While just a few hundred miles south, WTI is flirting with the one year low price of $50/barrel, Canada’s oil-producing hub, Alberta, would be ecstatic to have its oil trade at anything even remotely close to this level. As we reported recently, Canadian oil producers […]
The Rapid Acceleration Towards Peak Oil Demand
The Rapid Acceleration Towards Peak Oil Demand The drumbeat towards peak oil demand is accelerating, but since much of the acceleration is happening outside of the United States, its cadence is muted. To be clear, the developed world passed peak oil demand a decade ago and has for years been forecast to continue reducing its […]
The Next Pillar Of Oil Demand Growth
The Next Pillar Of Oil Demand Growth The debate about peak oil demand always tends to focus on how quickly electric vehicles will replace the internal-combustion engine, especially as EV sales are accelerating. However, the petrochemical sector will be much more difficult to dislodge, and with alternatives far behind, petrochemicals will account for an increasing […]
IEA: Plastics Will Replace Fuels As Key Oil Demand Driver
IEA: Plastics Will Replace Fuels As Key Oil Demand Driver Plastics will displace fuels as the main driver for crude oil demand, the International Energy Agency said today, adding that petrochemicals will come to account for more than 33 percent of oil demand growth globally in the period to 2030. By 2050, they will drive […]
The Inevitable Oil Supply Crunch
The Inevitable Oil Supply Crunch “The warning signs are there – the industry isn’t finding enough oil.” That’s the start of a new report from Wood Mackenzie, which concludes that a supply gap could emerge in the mid-2020s as demand rises at a time when too few new sources of supply are coming online. By […]
OPEC Warns Of Slowing Oil Demand Amid Growing Risks To Global Economy
OPEC Warns Of Slowing Oil Demand Amid Growing Risks To Global Economy Amid fears of global oil supply disruption and production curbs, in its latest monthly report, OPEC expects global oil supplies to remain stable, while cautioning that demand is becoming a growing concern. In the latest report, OPEC said that preliminary data suggested that […]
Can Oil Demand Really Peak Within 5 Years?
Can Oil Demand Really Peak Within 5 Years? Oil demand could peak as soon as five years from now. Predicting the point at which the world reaches peak oil demand has become something of a cottage industry. The estimates range, but tend to fall somewhere around 2030 or later. However, two new predictions – just […]
The Real Reason Behind The Next Oil Squeeze
The Real Reason Behind The Next Oil Squeeze The last quarter has seen increased volatility in oil prices, an increase that I attribute to the growing tensions in international markets as fears of a global trade war intensify. The headlines seem to get starker by the day, and markets loathe this type of uncertainty. (Click […]
Is A Supply Crunch In Oil Markets Inevitable?
Is A Supply Crunch In Oil Markets Inevitable? The oil industry is more profitable than at any time in years, yet the industry could fail to supply enough oil to meet global demand in just a few years’ time. A series of second quarter earnings reports over the past two weeks has revealed surging profits […]
Oil Demand Growth Could Start To Soften Soon
Oil Demand Growth Could Start To Soften Soon OPEC may tout the production cuts pact as the key driver of oil market rebalancing, but if it weren’t for the strong global oil demand growth of the past three years, we wouldn’t have seen international agencies calling the end of the oil glut. Demand was strong […]
It’s The Demand, Stupid! Is China About To Burst The Black Gold Bubble?
It’s The Demand, Stupid! Is China About To Burst The Black Gold Bubble? For months we have heard about how the oil market’s over-supply ‘glut’ has been removed thanks to OPEC/NOPEC’s production cut deal and the narrative of ‘global synchronous recovery’ has buoyed the demand side of the equation – sending crude prices to four […]
OPEC’s Dilemma: Demand Destruction Or Production Boost
OPEC’s Dilemma: Demand Destruction Or Production Boost The early signs of discontent and demand destruction could be forcing OPEC’s hand, but increasing production carries its own risks. OPEC and Russia are considering raising oil production in a few weeks’ time, and while much of the focus has (rightly) been on the supply outages in Venezuela […]
