Macro Oils Service

Easily understand trends in the global oil market with our informed, independent view on oil prices and their key drivers.

Macro Oils Service

Easily understand trends in the global oil market with our informed, independent view on oil prices and their key drivers.

Preparing for ADIPEC 2024: 3 crucial questions answered

• 25 October 2024

ADIPEC will take place from 4-7 November in Abu Dhabi. The event will focus on the role of energy in driving a comprehensive transformation that benefits people, the planet, and our collective prosperity.

Saudi Arabia’s price push for oil market dominance in Asia

• 21 April 2020

Competition is fierce and struggling Asian refiners must now take full advantage of the abundant crude options to maximise their margins.

Oil Supply Tool

Understand the prospects for future oil and NGL supply, and make astute planning, trading and investment decisions.

Oil Supply Tool

Understand the prospects for future oil and NGL supply, and make astute planning, trading and investment decisions.

Trump’s tariff plan: implications for the future of global liquids trade

• 01 October 2024

A new tariff plan on imports would affect US consumers, global oil markets and refining, if implemented post US election.

4 key refining and chemical themes from Moscow

• 23 April 2019

We've condensed dozens of discussions at Wood Mackenzie's first Russia downstream forum and the 7th CIS Petrochemicals 2019 Conference into 4 of the hottest topics.

What changed energy markets in the 2010s?

• 14 January 2020

Can a decade be a turning point? So much happened in the energy sector, the 2010s might be seen as just that.

Will drivers see a repeat of 2014's gasoline price reprieve?

• 02 November 2018

The average retail gasoline price in the United States is now close to U.S.$3 a gallon, while in Germany, gasoline is retailing at an average of €1.40 per litre. We last saw prices like these in November 2014. Could we see a repeat of the 2014 reprieve?

How uncertainty will define the oil market in 2021

• 28 January 2021

Covid-19 and the oil price crash sent shockwaves through the oil market in 2020. How will continuing uncertainty affect global demand, supply and refining in 2021?

Is the price rally in energy and metals sustainable?

• 14 May 2021

Green shoots of economic recovery are bursting through. Energy, metals and mining commodity markets have sensed it for months – witness the soaring prices of oil, LNG, iron ore, copper and many other metals. Is this a post-pandemic economic bounce or the start of a new supercycle?

Oil and refined products in 2025: a commodity trader’s guide

• 14 April 2025

In an energy hungry world beset by growing trade tensions and shifting energy policy, volatility creates opportunity for commodity traders who can stay one step ahead of market shifts. So, what are the opportunities and challenges set to shape crude and refined product markets as 2025 progresses?

What a future Ukraine peace deal means for energy (Part 2)

• 26 March 2025

A windfall for Russian oil producers and impetus for upstream investment

Oil and gas markets’ perilous dilemma

• 28 July 2026

Will renewed conflict push the global economy into recession, or can a credible US Iran deal restore stability to oil and LNG markets

International Energy Week 2025: our key takeaways for oil & gas

• 27 February 2025

As the publicity material for International Energy Week 2025 – held in London from 25-27 February – states, we live in an energy-hungry world. Amid growing trade tensions and shifting energy policy, what does that mean for oil and gas?

Oil’s resilience in the energy system

• 03 December 2025

Oil demand is proving more resilient than expected

Oil price crash - where does Asia go from here?

• 17 March 2020

Oil demand has gone into a tailspin. We now expect Q1 global oil consumption to be 2.7 million b/d lower than the same period a year ago.

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

• 15 April 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.

The spread of the coronavirus shakes the world

• 28 February 2020

As the Covid-19 virus spreads to 52 countries, fears of its economic impact have sent stock markets and oil prices tumbling. This and more in Ed Crooks' Energy Pulse.

COP26 oil demand: in the cross hairs of emissions reduction

• 18 August 2021

Our COP26 briefing considers the implications for the oil market and refining industry of a global concerted effort to reduce emissions and limit a temperature rise by 2050 to 2 °C.

Crisis in Ukraine: the global risks to commodities

• 25 February 2022

The invasion of Ukraine has had an immediate effect on the global economy and markets. What are the lasting implications for commodities?

The Biden administration seeks answers to high fuel prices

• 17 June 2022

The president has asked refiners to increase output. Effective solutions will be more complex.

Falling US oil inventories put upward pressure on fuel prices

• 04 May 2026

As US oil flows overseas to meet global demand, shrinking inventories at home are pushing fuel prices closer to record highs and the worst may be yet to come

Boiling a frog – could oil prices test US$200/bbl?

• 09 March 2026

Prolonged disruption of Gulf exports will necessitate demand destruction.

UAE’s oil potential boosted by promising shale discovery

• 10 September 2026

Which players are active in UAE shale? How big is the resource?

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

• 20 July 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.

What investors want to know about energy and natural resources

• 17 June 2020

The impact of Covid-19 on energy demand remains top of mind, but investors’ questions reveal a return to calm if not a return to “normal”

Red Sea crisis: what crisis? Not for US refiners as refining margins boom

• 19 February 2024

US product exports to Europe advantaged as Middle East/West Coast India exports are challenged by Red Sea disruption

Oil in a decarbonising world

• 22 September 2022

What is the trajectory of oil demand in a world that’s decarbonising and how will that influence prices?