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The World’s Largest Oil Producers
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The world is in the middle of the first energy crisis of the 21st century.
Authored by Ron Patterson via OilPrice.com,
This assessment is based on the data in the 2017 BP Statistical Review of World Energy available here. As such it uses that review’s definition of oil which is crude and condensate and natural gas liquids, uncompensated for their different energy contents or values of refined product components.
Figure 1: World Oil Production 1990 – 2017
(Click to enlarge)
Authored by Tsvetana Paraskova via OilPrice.com,
As we roll into 2018, analysts and investors are more optimistic that the oil market will further tighten next year and support higher oil prices, but rising U.S. shale production will likely cap any significant price gains.
On the demand side, expectations are that global economic growth will support solid oil demand growth.
Authored by Nick Cunningham via OilPrice.com,
Last week, the International Energy Agency made a lot of OPEC brows furrow when it warned that 2018 may not be a very happy new year for the cartel.
U.S. shale supply, the IEA said in its December Oil Market Report, is set to grow more than OPEC has estimated and this could be the undoing of the production cut that boosted prices this year.
Authored by Nick Cunningham via OilPrice.com,
Oil prices are set to close out the year somewhere around 15 percent up, and the oil market looks more stable than it has in years.
But what does 2018 have in store?
Most analysts believe more of the same – inventory declines, some shale growth, a gradual increase in the oil price and eventually an end to the OPEC deal. But a lot of uncertainty remains.
Here are 5 key issues to watch as we head into 2018.
#1 U.S. shale growth