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The Oil Price Drops On Rising US Inventories – 2017

By | 2017-03-23T10:23:49+00:00 March 23rd, 2017|Categories: Articles|Tags: , , , , |

In the first half of 2017, OPEC and non-OPEC producers agreed to reduce oil output by 1.8m barrels per day (bpd). The move has supported the oil price, but the expected drop in global oil inventories has not materialised. Now, after a calm few months, the oil price has fallen almost 10% to below $50 per [...]

Algeria – Dealing With Low Prices & Political Risks – 2017

By | 2017-03-21T14:56:38+00:00 March 21st, 2017|Categories: Articles|

Algeria, a country of 40 million people, is a key member of the committee which monitors the wide OPEC+ agreement reached last year, and one of the last bastions of stability in North Africa. Despite the 2011 Arab Spring, which swept across the region, the country has maintained relative peace in the face of multiples waves [...]

IEA Warns Of An Oil Supply Crunch – Despite 2017 Shale Investment

By | 2017-03-16T15:12:47+00:00 March 7th, 2017|Categories: Articles|Tags: , , |

IEA Warns Of A Supply Crunch Despite Shale Investment The IEA is forecasting a modest oil price recovery in 2017, supported by increased global demand. The agency's numbers indicate that oil supply should be adequate for the next few years. However, it is now unclear whether enough new projects will enter the pipeline over this period [...]

Standardisation & Cost Cutting in Oil & Gas – 2017 Trends

By | 2017-03-16T15:12:26+00:00 February 20th, 2017|Categories: Articles|Tags: , , , |

A Less Volatile Environment The sharp decline in oil and gas (O&G) prices since 2014 has put pressure on businesses to reduce costs and reassess investments. The latest report from DNV GL shows that O&G companies are seeking to rebalance business portfolios and reorganise for a new era of production, with a focus on standardisation, digitalisation [...]

The OPEC+ Agreement: Oil Supply & Demand in 2017

By | 2017-03-16T15:12:06+00:00 January 30th, 2017|Categories: Articles|Tags: , , , , |

The OPEC+ agreement has stabilised the oil price The Brent oil price, which fell to c$27 per barrel at its lowest point in 2016, has now held above $50 per barrel since the original OPEC and non-OPEC agreement in December. The latest IEA Oil Market Report (19th January) indicates that the crude oil price will rise [...]

The Global Ethylene Shortage – Supply & Demand in 2017

By | 2017-03-16T15:11:22+00:00 January 28th, 2017|Categories: Articles|Tags: , , , |

One of the major oil and gas predictions for 2017 is a global ethylene shortage, as supply fails to keep up with growing demand. Ethylene is a raw feedstock for plastics. Cracker units use natural gas as a material to produce ethylene, which is then converted into plastics, such as polyethylene. Both the -oxide and -glycol [...]