Forecast
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.
News
February 02, 2017
Royal Dutch Shell appeared to put the worst of the oil slump behind it as rising cash flow allowed Europe’s largest energy company to trim debt for the first time since the downturn began.
News
February 01, 2017
Chairman Christi Craddick met with leadership at the Federal Reserve Bank of Dallas (Dallas Fed) this week to discuss this year's outlook for the state's oil and gas industry. According to economists with the Dallas Fed, Texas oil and gas drilling activity will increase throughout this year.
News
January 25, 2017
PetroChina, the country’s biggest listed oil and gas producer, said full-year net income in 2016 fell by as much as 80%, putting it on pace to report a record-low profit.
News
January 25, 2017
Oil demand growth will slow and supplies will remain abundant in the coming decades, meaning producers in the Middle East, Russia and U.S. will continue to gain market share at the expense of higher-cost rivals, said BP.
News
January 25, 2017
OPEC and other oil producers are likely to comply fully with a deal to reduce supply, bringing global crude markets into balance early this year, Kuwaiti Oil Minister Essam Al-Marzouk said.
News
January 18, 2017
Oil fell in New York, reversing earlier gains, after the head of the International Energy Agency (IEA) predicted a rebound in U.S. supply.
News
January 16, 2017
Egypt's gas market is poised to undergo profound changes in the next five years, and these could have an impact on the global LNG market, seeing Egypt position itself as a prominent seasonal player, research from global natural resources consultancy Wood Mackenzie shows.
News
January 11, 2017
The oil industry will shake off the effects of the biggest downturn in a generation this year as they more than double project approvals and increase exploration spending for the first time in three years, according to Wood Mackenzie.
News
December 25, 2016
Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market.
News
December 21, 2016
Call it a pre-Christmas lottery ticket, but someone in the oil market has been busy making a bold bet, buying contracts that will be profitable if oil surges again to $100/bbl.
News
December 20, 2016
Oil climbed before government data forecast to show U.S. crude inventories dropped for a fifth week, trimming a glut.
News
December 16, 2016
Oil prices boosted by global output reductions will be capped because of new supply before long, according to Goldman Sachs Group Inc. The cuts by OPEC members and nations outside the group, as well as strong demand growth, will probably help curb inventories by next summer, analysts including Damien Courvalin said in a note dated Dec. 16. While the bank raised its oil-price forecasts for the second quarter of 2017, it decreased its crude estimates for 2018 on concern that new production will enter the market.
News
December 15, 2016
As tax reform and regulatory easing across the U.S. oil and gas industry are anticipated in a new administration, EY expects innovation in financial and operational excellence will be a main driver of value and competitiveness in 2017.
