• Comment

  US to release crude oil from strategic petroleum reserve

  • 25 11月 2021

  On 23 November, US President Biden announced the release of 50 million barrels (mbbl) of crude oil from the US Strategic Petroleum Reserve (SPR).

• News Release

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

  • 15 4月 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

  Carbon removal key to meeting Paris Agreement target

  • 24 6月 2021

  Achieving the 2°C goal of the Paris Agreement will require more than simply avoiding carbon. To cap global warming at 1.5°C or even 2°C, carbon removal will be essential. Research from global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq:VRSK), shows the key to effective large-scale carbon removal is unlocking potential economies of scale through basin-wide carbon capture and storage (CCS), effectively providing a community answer to a global problem.

• Comment

  Nigerian lawmakers pass petroleum bill – but there is still work to do

  • 02 7月 2021

  Speaking after the Petroleum Industry Bill (PIB) was passed by the Nigerian National Assembly on 1 July, Mansur Mohammed, head of West Africa content on Wood Mackenzie’s sub-Saharan Africa upstream research team, said: “The Senate and House each passed different versions of the bill, which will now require reconciliation before it is sent to the president for assent into law. So there is still outstanding work to do before the PIB becomes law, but we see momentum behind the bill.”

• Comment

  Biden administration and what it means for China and rest of Asia Pacific

  • 20 1月 2021

  As Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.

• News Release

  Energy transition to drive refinery and petrochemicals integration

  • 16 2月 2021

  2020 was a difficult year for the world’s refineries as the coronavirus pandemic reduced refinery utilisation and OPEC+ supply restraint narrowed crude price differentials. Despite this, integrated refinery and petrochemical sites significantly outperformed their fuels-only peers, according to Wood Mackenzie.

• Platform

  Lens platform: Lens Emissions

  • 27 9月 2024

  Decision intelligence to simplify the complexity of emissions risk management. Available with Lens Upstream solutions.

• Comment

  OPEC+ agrees to increase output after tense negotiations

  • 07 12月 2020

  Tense negotiations and rumours of a rift between Saudi Arabia and UAE ended with a compromise deal for OPEC+ on 3 December 2020. Despite concerns on oversupply for Q1 2021, the group agreed to increase output by 500,000 b/d in January. Production restraint is set at minus 7.2 million b/d instead of the Q4 2020 level of minus 7.7 million b/d.

• News Release

  India to overtake China as world’s largest LPG residential market by 2030

  • 06 10月 2020

  India is expected to overtake China as the world’s largest liquefied petroleum gas (LPG) residential sector market by 2030.

• Opinion

  How will refiners cope with lost oil demand?

  • 24 6月 2020

  Demand pressures, overcapacity and budget cuts mean the refining industry should brace for a challenging few years ahead

• News Release

  North America could play bigger role in future global bunker market

  • 20 3月 2017

  Alan Gelder, Vice President of Refining, Chemicals & Oil Markets, believes that North America has the opportunity to take a much bigger role in the future global bunker market.

• News Release

  OPEC producers key to world supply through to 2040

  • 16 7月 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

  India to overtake China as world's largest oil demand growth centre by 2024

  • 03 9月 2018

  India's oil demand is expected to grow by 3.5 million barrels per day (b/d) from 2017 to 2035, accounting for one-third of global oil demand growth. India's demand is driven by rising income levels, an expanding middle class and a growing need for mobility.

• Comment

  India to double oil products growth in 2018

  • 19 1月 2018

  India is poised to double its oil product demand growth (190 kb/d) in 2018 after a sluggish 2017, when demand grew by only 93 kb/d. Last year, demand growth was at its slowest in the past three years.

• Comment

  US sanctions increase pressure on Venezuela

  • 30 1月 2019

  The US is poised to impose fresh sanctions on Venezuela, ratcheting up the stakes in the country's political crisis by curbing the Maduro government's access to cash from crude exports.

• Opinion

  How Chinese PTA and MEG futures impact the polyester industry?

  • 30 1月 2019

  The two polyester feedstocks – purified terephthalic acid (PTA) and monoethylene glycol (MEG) – in the world's most important polyester market China, have recently moved towards a total paper business.

• Opinion

  Commodity slowdown in China could be different this time

  • 05 3月 2019

  In today's meeting of the National People’s Congress, China announced slower growth this year, with its gross domestic product (GDP) growth targeted at a range of 6 to 6.5% in 2019.

• Opinion

  China's refining sector to slowdown and reconfigure for energy transition

  • 15 3月 2019

  Refinery capacity is expected to continue growing in the medium term, but the pace of growth is expected to slow down considerably. Capacity additions are mainly from crude-to-chemicals projects, which aim to maximise naphtha production to meet the increasing petrochemical feedstock demand.

• Editorial

  Automotive sales trends suggest higher oil demand in medium term

  • 04 4月 2019

  The vehicle industry’s shift towards cleaner technology is poised to throw a wrench in the oil market – but likely not for another decade. Demand growth from light vehicles and two-wheelers, a key sector which accounts for roughly 30% of the near 100 million b/d in global crude consumption, are expected to slow down over the next 10 years, and eventually begin to decline after 2030, with the rapid adoption of electric vehicles (EVs).

• Comment

  Aramco's $10bn bond underscores its vast global ambitions

  • 01 4月 2019

  Saudi Aramco’s decision to issue a $10 billion bond underscores how serious the company is about transforming itself into an international powerhouse across the oil and gas value chain, from upstream to petrochemicals.

• Comment

  PES refinery fire halts gasoline production

  • 21 6月 2019

  A large fire at the Philadelphia Energy Solutions (PES) oil refinery in Philadelphia has halted gasoline production at the complex.

• Comment

  PES to close oil refinery after fire damage

  • 26 6月 2019

  Philadelphia Energy Solutions (PES) will close its oil refinery in the city, following a large fire last week that damaged the complex.

• News Release

  No-Deal Brexit won’t sound death knell for UK refiners

  • 23 8月 2019

  Despite speculation that a No-Deal Brexit would have a severe impact on the UK refining industry, Wood Mackenzie’s analysis indicates that while the sector’s dynamics would shift and margins will narrow, it would not be crippled.

• Comment

  Attack on Saudi Arabia's oil facilities

  • 16 9月 2019

  This attack has material implications for the oil market, as a loss of 5 million barrels per day of supplies from Saudi Arabia cannot be met for long by existing inventories and the limited spare capacity of the other OPEC+ group members. A geopolitical risk premium will return to the oil price.

• Content

  Featured Reports

  • 09 8月 2018

  We're highlighting our most popular reports. Gain instant access to detailed data — by the numbers and with visualisation — to address business challenges and make better, more strategic decisions.

• Comment

  What does the US-China trade deal mean for refiners - and for the market?

  • 20 1月 2020

  After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by US$52.4 billion above 2017 levels over the next two years. What could it mean for the oil market?

• Comment

  India's 2020 energy outlook

  • 23 1月 2020

  India's 2020 energy outlook

• Opinion

  Russia also matters in refining, but has its appetite to invest waned?

  • 21 11月 2018

  Russia is a major energy exporter and a key player in the global energy market. Despite its 6.5 million barrels per day of refining capacity, its critical role in the global refining industry is not often recognised. Alan Gelder explains Russia's role and influence in the global energy market.

• Opinion

  Regulatory clouds darken a bright outlook for refining

  • 27 7月 2018

  The spotlight fell on the refining sector in 2015 as the oil price collapsed and oil demand surged, resulting in a record year for global refining margins. How long can this picture of rude health continue?

• Editorial

  Smooth sailing or rough seas? IMO to cap sulphur in 2020

  • 09 5月 2017

  Our experts weigh in on the changes that the IMO regulations could bring.