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OPEC+ maintains production plan

27 abril 2021

OPEC+ is, as expected, holding firm to its decision to increase supply, gradually and carefully, over the coming months.

News Release

OPEC stays the course with production deal

01 diciembre 2017

OPEC and non-OPEC producers agree to extend production curbs through 2018

News Release

Implications of OPEC+ meeting for H2 2023

07 junio 2023

The decision by OPEC+ to extend current production cuts and an additional voluntary 1 million b/d reduction for July from Saudi Arabia should provide support for prices in the rest of 2023, according to Wood Mackenzie.

News Release

OPEC+ set to make its choice

05 diciembre 2019

OPEC+ gathers today and tomorrow to decide if the group should roll over its production restraint agreement or consider deeper cuts. The current agreement to reduce output by 1.2 million b/d runs to end March 2020. Ann-Louise Hittle, vice president, Macro Oils, said: “The idea of deeper cuts has been broached, but we consider that less likely to reach full agreement than a rollover of the standing agreement. The need for production restraint is clear. Slower US production growth is not enough to offset the ongoing imbalance between global supply and demand.”

News Release

OPEC producers key to world supply through to 2040

16 julio 2018

Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.

News Release

OPEC+ set for rollover but risk clouds supply outlook

30 junio 2019

As OPEC and OPEC+ meet in Vienna, the outlook for the market is mixed, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie said. “Geopolitical risk means the supply outlook is tightening, offsetting the moderate weakening in oil demand growth thus far this year,” she said.

News Release

OPEC+ deal balances consumer pressure with need for stable prices

23 junio 2018

The OPEC+ meeting, held in Vienna on 23 June 2018, confirmed Saudi Arabia and Russia’s high-level commitment to co-operate to manage the oil market.

News Release

OPEC+ ‘no deal’ a blow to the market

06 marzo 2020

The OPEC+ meeting broke up without a deal, what does it mean for the markets?

News Release

Non-OPEC decline rates to remain stable until 2020

27 septiembre 2017

Through operational excellence programmes and smart spending, operators have managed to maximise production and improve efficiencies, bucking expectations of an increase in decline rates. In fact, non-OPEC decline rates have remained stable since 2015. A new report by Wood Mackenzie, Non-OPEC Decline Rates: Lower for Longer, looks at the factors influencing this stability, how long it can be maintained and the impact future shifting decline rates may have on the oil market.

News Release

OPEC+ aims for balance as it rolls over output curbs

02 julio 2019

Speaking as the OPEC and OPEC+ meetings ended in Vienna today, Ann-Louise Hittle, vice president, Macro Oils, at global natural resources consultancy Wood Mackenzie, said: “The agreement to roll over production restraint was a foregone conclusion after the green light from Russia’s president, Vladimir Putin, at the G20 meeting for continued production restraint."

News Release

OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

05 marzo 2020

The OPEC oil producers' group and its non-OPEC allies are poised to deepen its production cuts by 1.5 million barrels per day as the coronavirus (Covid-19) outbreak eats into global oil demand.

News Release

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

06 diciembre 2022

Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said “The decision by OPEP+ to continue with its recently agreed 2 million barrels per day (b/d) production cut through the end of 2023 is not a surprise, given the uncertainty in the market over the impact of the 5 December EU Russia crude oil import ban and the G7 price cap. In addition, the producers group faces downside risk from the potential for weakening global economic growth and China’s zero Covid policy.”

News Release

OPEC opts for a show of unity - and a clever compromise

22 junio 2018

On 22 June 2018, oil producers' group OPEC delivered a compromise which avoided a decision to fully lift production restraint by instead agreeing to lower its adherence to the current accord from the current 152% to 100%, a clever way to increase output without officially agreeing on an end to output curbs. This should bring a total of 0.6 million barrels per day (b/d) back into the market during H2 2018.

News Release

OPEC+, Covid-19 and energy transition – 3 themes impacting oil markets and refining in 2021

28 enero 2021

Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition.

News Release

Oil price rout: which supply is most at risk of shut-in?

27 marzo 2020

The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply. The result: Brent crude has plunged to less than US$30/bbl. This will have a significant impact on currently producing fields and future supply. How low can the price go before different sources of production become uneconomic? Where are production shut-ins most likely? Can governments influence the result?

News Release

Oil market uncertainty could significantly affect prices

24 febrero 2025

Wood Mackenzie projects that Brent crude oil prices will average $73.00 per barrel (bbl) in 2025, according to its latest market outlook. The forecast considers various geopolitical and economic factors, including potential peace talks between Russia and the US regarding the Ukraine conflict, ongoing tariffs, and sanctions against Iran.

News Release

Oil prices likely to be lower in 2025 than last year

18 marzo 2025

Brent crude oil prices are projected to average $73 per barrel in 2025, down $7 per barrel per barrel from 2024, according to Wood Mackenzie’s latest monthly oil market outlook. The $73 per barrel forecast for this year is revised down $0.40 per barrel from the early February monthly report.

News Release

Oil demand faces downside risks; supply shortage not anticipated in 2022 with lots to watch out for

19 enero 2022

Wood Mackenzie releases its Oil markets: 5 things to look for in 2022 report which discusses the uncertainties and issues impacting global demand, oil supply and refining markets this year.

News Release

Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

16 abril 2020

Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.

News Release

Conventional pre-FID breakevens give the Lower 48 a run for its money

14 marzo 2018

Analysis of global oil cost curves indicates that many conventional pre-FID projects – even deepwater developments - are now competitive on a breakeven basis with US Lower 48 tight oil. However, this competitiveness has come at the expense of volumes. The trade-off of cost efficiency versus volumes means that in the medium- to long-term, the cost of supply is set to increase, highlighting the US Lower 48’s role as an important marginal barrel producer.

News Release

What's behind Libya's production boost?

20 octubre 2017

Libya's oil production has increased steeply from August 2016’s low point of below 300,000 barrels per day (b/d) to around 850,000 b/d at present, passing the 1 million b/d barrier in July. But Wood Mackenzie believes Libya may now be reaching its near-term production limits and future growth will be gradual.

News Release

2020 gets off to a bumpy start for the refining sector

21 enero 2020

This year may prove to be a strong one for the refining sector, but 2020 has had a difficult start. Wood Mackenzie expects some turbulence this year as a number of factors come together – geopolitical risk, the impact of IMO 2020 regulations, and US tight oil production slowing, among them.

News Release

Key things to watch in upstream in 2024

11 enero 2024

Geopolitical tensions, a record year for elections and economic uncertainty will define the backdrop to the upstream industry in 2024. Wood Mackenzie recently released its What to Look for in 2024 upstream series. Key themes to watch in global and corporate upstream include continued consolidation, increased activity from NOCs, reversing decarbonisation gains, shifts in strategic playbooks and an upstream investment plateau.

News Release

Action to achieve Paris climate goals will upend oil and gas prices

15 abril 2021

If the world acts decisively to limit global warming to 2°C by 2050, the scale of change will revolutionise the energy industry. Progressive electrification will squeeze the most polluting hydrocarbons out of the energy mix, nearly eliminating their markets. Oil demand will shrink, and with it, so will the power of major oil producers. Gas demand will remain resilient, but business models will need to evolve.

News Release

US$500 billion (2023 terms) investment in global oil and gas asset development enough to meet peak demand in 2030s

20 julio 2023

Despite concerns about underinvestment in upstream, peak oil and gas demand can be met in the 2030s without a substantial increase to current annual asset development investment levels of US$500 billion in 2023 terms, according to a new Horizons report from Wood Mackenzie.

News Release

Major energy exporters race to lead in global hydrogen trade

28 octubre 2021

The time is ripe for the world's major energy exporters to accelerate the energy transition, and mastering the hydrogen trade could make a difference, says Wood Mackenzie.

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Your search for opec has returned 26 results

OPEC+ maintains production plan

OPEC stays the course with production deal

Implications of OPEC+ meeting for H2 2023

OPEC+ set to make its choice

OPEC producers key to world supply through to 2040

OPEC+ set for rollover but risk clouds supply outlook

OPEC+ deal balances consumer pressure with need for stable prices

OPEC+ ‘no deal’ a blow to the market

Non-OPEC decline rates to remain stable until 2020

OPEC+ aims for balance as it rolls over output curbs

OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

OPEC+ prepares for market uncertainty with continued 2 million b/d production cut

OPEC opts for a show of unity - and a clever compromise

OPEC+, Covid-19 and energy transition – 3 themes impacting oil markets and refining in 2021

Oil price rout: which supply is most at risk of shut-in?

Oil market uncertainty could significantly affect prices

Oil prices likely to be lower in 2025 than last year

Oil demand faces downside risks; supply shortage not anticipated in 2022 with lots to watch out for

Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

Conventional pre-FID breakevens give the Lower 48 a run for its money

What's behind Libya's production boost?

2020 gets off to a bumpy start for the refining sector

Key things to watch in upstream in 2024

Action to achieve Paris climate goals will upend oil and gas prices

US$500 billion (2023 terms) investment in global oil and gas asset development enough to meet peak demand in 2030s

Major energy exporters race to lead in global hydrogen trade