for Oil Supply
Assuming that oil prices will remain low through 2050 is not consistent with current market dynamics or historical precedent.
Two things to question no matter what the outcome: The assumption that a production agreement will benefit the market, and the promise that OPEC can moderate a price spike in the next year.
The world still needs massive investment—all along the supply chain—to keep future price spikes from occurring and for countries to improve their energy security. But many in the industry have become more restrained in making big investments.
Video: Saudi Arabian Energy Minister Khalid al-Falih’s Full Comments Before OPEC Ministerial Meeting
Saudi Arabian Energy Minister Khalid al-Falih comments on his expectations for an OPEC deal, cooperation from non-OPEC members, and timelines for market rebalancing.
Renewed political turmoil and the takeover of major oil terminals last month didn't stop Libyan oil production from tripling since August. How long will it last?
The substantive discussion gave insights into how energy policy would take shape in either a Clinton or Trump administration.
Right now, OPEC is revealing just how far from dead it really is, and realizing how much it can accomplish with words and meetings alone.
Lack of details announced alongside the new production cap reveals that many internal fissures persist. Those fissures didn't stop oil prices from rallying nearly 6 percent after the announcement.
SAFE's latest energy security fact pack shows how the oil market is rebalancing more slowly than any expected, with underwhelming demand and supply side reactions leaving prices volatile and stocks brimming.
The second quarter saw a remarkable plunge in refining margins, taking away the one source of comfort for the integrated oil majors.