for Capital expenditures
Stay on top of the latest developments in oil markets, geopolitical risk, and alternative fuel vehicles with the SAFE policy team's Chart of the Week.
Sharper-than-expected decline rates as a result of limited investment and a major cutback in capital expenditures for brand new projects are setting the stage for a dramatic market shift by 2018, according to a major consultancy.
A general consensus has emerged that upstream investment cuts will eventually push prices upward, resulting in a potentially dramatic correction that rattles the global economy. A price spike, while possible, is not yet a forgone conclusion.
Gunvor is one of the largest commodity traders in the world. David Fyfe, Gunvor's Head of Market Research and Analysis, talked to The Fuse about current oil market dynamics, shifting trends in global trading, and the status of OPEC.
The decline in oil prices that began in mid-2014 has wreaked havoc across all different types of companies in the industry, and there seems to be no respite in the short run. Companies are continuing to lay off staff, cut back on projects, and report eye-opening losses.