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.

China's mega crude-to-chemicals projects may deal knockout blow to regional PX exporters

• 21 8月 2018

Higher base chemicals demand and feedstock security for heavy naphtha are driving the development of a new wave of mega-integrated refinery and chemical sites in China. Private Chinese chemical producers, including Hengli and Rong Sheng, are back-integrating their chemical plants with refineries by building mega-integrated facilities. Wood Mackenzie expects these projects to come on stream in the next 12 to 24 months.

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.

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.

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.

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.

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

• 14 4月 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 higher oil prices in 2024 could mean for the economy and politics

• 14 9月 2023

The oil market has come to life, with prices finally delivering on our expectations for 2023. Our oil experts, Ann-Louise Hittle and Alan Gelder, join Simon Flowers to discuss where the market goes from here and what this could mean for the economy and politics.

Oil and Gas Emissions Benchmarking Tool

Inform strategic decisions regarding oil & gas emissions risk management at scope 1, 2 and 3

Coronavirus Guide: Coronavirus reports

• 08 3月 2020

Coronavirus research reports for purchase in the Wood Mackenzie store

Energy transition glossary

• 21 8月 2024

Our energy transition glossary helps you understand key terms and definitions.

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.

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.

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

• 05 3月 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.

New CEO Looney rings changes at BP with ambitious climate plan

• 12 2月 2020

Speaking after BP’s new chief executive Bernard Looney unveiled the major’s ambitious climate commitments today, Luke Parker, vice president, corporate analysis, said: “BP joins Shell, Total, Equinor and Repsol in making a major commitment to reduce its net carbon footprint. “This marks a major turnaround in BP’s position. Just 12 months ago former CEO Bob Dudley said the company could not be held accountable for how people use its products. Looney is taking the company in a very different direction.” Parker added: “It’s an ambition, rather than a target, but the commitment appears to be unconditional. In terms of scale of commitment, this puts BP towards the top of the pack, along with Repsol and Equinor. “This will see BP’s business completely transformed over the coming decades: renewables and carbon abatement will get very big, legacy oil and gas will eventually get smaller. But the transition to 2050 is a multi-decade transition - not something that will happen in the next year or so.”

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.

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.

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).

Firth of Forth net-zero hub key to achieving climate goals

• 17 8月 2021

The development of net zero hubs around the UK has proved a key plank of the country’s strategy towards achieving net zero by 2050. Scotland, which has a 2045 net-zero target, could advance its ambitions by establishing a net zero hub on the Firth of Forth, research from global natural resources consultancy Wood Mackenzie, a Verisk company (Nasdaq: VRSK) has found.

Five themes dominating China’s energy scene in 2022

• 27 1月 2022

Economic growth, stability in energy prices, energy transition, dual-control targets and relations with the US, are the top five themes to watch out for in China’s energy outlook this year, says Wood Mackenzie.

Low-carbon hydrogen demand in refining could reach 50 Mtpa by 2050

• 09 6月 2022

Potential low-carbon (green or blue) hydrogen demand from the global refining sector could reach 50 million tonnes per annum (Mtpa) by 2050, says Wood Mackenzie.

Potential US refined oil product export ban would challenge already constrained global markets and refining systems

• 25 10月 2022

A proposed US refined product export ban would save US consumers at the gasoline pump but pose significant challenges and costs to US and global refining systems, according to a recent analysis from Wood Mackenzie.

New mid-caps in Brazil aim to increase mature asset reserves almost 1 billion boe by 2035

• 06 12月 2022

With Petrobras divesting in many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest US$10 billion in capital investments during the next decade, boosting the production from these assets through 2027 and increasing remaining reserves by 980 million barrels of oil equivalent (mmboe) by 2035, according to a report from Wood Mackenzie, a Verisk business.

Veritas Capital completes acquisition of Wood Mackenzie

• 02 2月 2023

Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).

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

• 20 7月 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.

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.

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.

China’s crude reserves to reach 1.15 billion barrels in 2020

• 23 3月 2020

Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.

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.

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.