People from around the world gathered at the 6th annual IEF-OPEC-IEA Energy Symposium in Saudi Arabia. Ann-Louise Hittle, VP of Macro Oils Research, shares her view on the importance of the open, informed dialogue at the event.
An invitation-only event held in Riyadh, Saudi Arabia on the 16th of February, Ann-Louise discusses the implications of the low oil price:
"Wood Mackenzie creates a long-term outlook similar to what the presentations covered today. We've been looking first at cash costs. When will costs get low enough to cut supply? Which projects are being deferred? What will happen to US supply when prices rise?
It was very beneficial to see the work that's been done by the IEF in order to create more similarities between the baselines and the assumptions."
Watch more video interviews and highlights of the event on the IEF page
Even without an OPEC deal, our forecast shows supply/demand balance shifting in 2016. We expect stockdraws by 4Q 2016. Oil price supportive— WoodMac Oil Price (@WMALHittle) February 20, 2016
Global macro oils long-term outlook - Our latest long-term oil outlook to 2035 provides forecasts for OPEC and non-OPEC supply, world oil demand and an oil price forecast for Brent.
Global macro oils short-term outlook - In our latest short-term report, for 2016, we expect a decline in non-OPEC supply of 0.7 million b/d.