A series of recent deepwater discoveries has demonstrated that the offshore oil sector is beginning to rebound after years of subdued activity, despite increasing interest in onshore shale drilling.
Since the price downturn, companies have prioritized digital technologies, artificial intelligence, automation, robots and drones, connectivity, and data analytics in their budgets.
The remarkable shift in U.S. production should be celebrated, but it is also important to remember how much surrounding energy security has not changed. More than 90 percent of the transportation is fueled by petroleum, and consumers are still vulnerable to price swings and supply outages on the global market.
The weaker dollar has large implications for oil-exporting countries, particularly those in OPEC, as it cuts their purchasing power.
The oil majors are expected to post $80 billion in organic free cash flow in 2018, but spending is expected to be modest.
Smaller producers are eager to work with OPEC or join the cartel in an effort to boost their reputation, amplify their market clout, and gather research, information, and resources to attract investment.
The expected boom in shale output masks a list of underlying problems that confront the sector. Most companies are still not generating positive cash flow and remain highly dependent on borrowing from the debt markets.
This past year, news surrounding energy security continued to occur at a rapid pace, with OPEC extending its production cuts (twice), car companies outlining their strategies for electric and autonomous vehicles, and geopolitical supply outages increasing oil prices. We’ve published numerous stories and infographics, commenting on the major energy security issues of the day. Here are 10 standout pieces from 2017.
Oil markets surprised this past year with higher-than-anticipated prices, & next year will likely bring even more unanticipated events and volatility. Here are some of the top market developments of the past year and key issues for 2018.
Shale has upended global energy markets but two questions remain unanswered: Can it be called upon to meet demand growth, and will it ever be profitable?