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Collapsing demand sets the terms in the OPEC+ battle for market share
- 09 April 2020
Since OPEC+’s failure to agree on production restraint on 5-6 March, the implications of the Covid-19 pandemic have become far clearer, sparking a crisis in the oil market as prices fell and supply ramped up. The problem for these producers is the scale of the fall in oil demand, especially during April and forecast for Q2 2020. No matter the size of the varying forecasts, they all point to a challenging market that puts pressure on storage space and prices.
News Release
India’s bulks supply chain takes a hit during lockdown
- 08 April 2020
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is disrupted. Industries are either closed or operating at sub-optimal utilisation.
News Release
Coronavirus restrictions set to hit US utility-scale solar projects
- 01 April 2020
The coronavirus pandemic is likely to have a material impact on utility-scale solar installations in the US this year, and perhaps even into 2021. In its Coronavirus: US Solar PV Supply Chain and Utility-Scale Market Risk report, Wood Mackenzie says that, in a best-case scenario, the market could see up to four weeks of supply delays affecting a few hundred MWs of modules and inverters. This, combined with construction disruptions, could translate into as much as 2 GWdc of project development delays in 2020.
News Release
African upstream capex ‘may be slashed by 33%’
- 31 March 2020
Faced with the double whammy of the oil price crash and the coronavirus pandemic, Africa’s upstream sector looks set to slash capital spending by around 33% in 2020. Similar cuts to operating costs are also targeted by producers to stay cash-flow neutral. Unlike the 2015-16 price crash, this time nothing is sacrosanct: some operators will even wield the axe on committed spend, as well as the discretionary expenditure.
News Release
Global wind power capacity to grow by 112% over next 10 years
- 26 March 2020
Global wind power capacity additions are expected to sit at an annual average of 77GW from 2020 to 2029, according to Wood Mackenzie.
News Release
Oil price crash dents timeline of Australia’s second wave of FIDs
- 26 March 2020
Wood Mackenzie’s latest analysis reveals that Australia’s next wave of LNG projects are likely to be delayed.
Comment
Can the North Sea survive the price rout?
- 23 March 2020
The North Sea has weathered several storms in its 50-year existence. But the events of the past few weeks mean the sector is entering uncharted waters. The coronavirus pandemic and collapse in OPEC+ production restraint has seen Brent reach its lowest point since 2003.
Comment
Industry slashes spending as price rout deepens: Can companies cope?
- 19 March 2020
Survival mode has returned to the oil and gas sector as the oil price rout deepens. Corporate financials are in better shape than during the 2014/2015 crash, but room for manoeuvre is limited. Can companies cope with prices this low?
Comment
Companies pass on the US Gulf of Mexico lease sale
- 18 March 2020
Today’s region-wide Gulf of Mexico Lease Sale 254 saw 84 bids received from 22 participating companies, with high bids totalling US$93 million. That amounts to roughly half of the previous lease sale, held in August 2019.
Comment
Jet fuel takes hit as Trump unveils US travel ban
- 12 March 2020
The travel ban announced by US President Donald Trump today is likely to have an immediate impact on jet fuel demand and prices across Europe and the US.
Comment
UK Budget - new plastics packaging tax
- 11 March 2020
The UK currently recovers or recycles just under 50% of plastics packaging, making it a middling performer in European terms
News Release
US storage market sets power capacity record with Q4 2019 deployments
- 10 March 2020
The United States energy storage sector set a power capacity record in Q4 2019, deploying 186.4 megawatts (MW) and 364.2 megawatt-hours (MWh) of storage.
News Release
Oil price rout may trigger major industry shake-up
- 10 March 2020
As global markets reel in the wake of the oil price crash, Wood Mackenzie’ corporate analysis team believes the price collapse could be the trigger for a new phase of deep industry restructuring - one that rivals the changes seen in the late-1990s.
News Release
OPEC+ ‘no deal’ a blow to the market
- 06 March 2020
The OPEC+ meeting broke up without a deal, what does it mean for the markets?
Comment
Rio Tinto will spend $1bn to reach net zero emissions by 2050
- 26 February 2020
Rio Tinto has announced it will spend $1bn to reach net zero emissions by 2050
News Release
Brazil’s consumers ‘pay price’ for power costs problems
- 12 February 2020
New research from global natural resources consultancy Wood Mackenzie indicates the fuel pricing mechanism used by Brazil’s Energy Planning Agency (EPE) in the country’s power auctions does not align with the New Gas Market programme – and Brazilian electricity consumers may pay the price for this.
News Release
Global battery electric vehicle sales to surge in 2020s
- 10 February 2020
The second half of the 2010s saw the rebirth of the battery electric vehicle (BEV).
Comment
French major Total to take 50% stake in Adani solar unit
- 07 February 2020
Speaking after French major Total announced it planned to buy a 50% stake in Indian company Adani Green Energy’s solar unit, Tom Heggarty, principal analyst with Wood Mackenzie’s Energy Transition Practice, said: “Total has been extremely active in the power and renewables M&A market as it seeks to diversify its activities and grow its exposure to the zero-carbon power sector."
News Release
Can offshore wind sustain double-digit growth?
- 06 February 2020
According to Wood Mackenzie figures, offshore wind will constitute 25% of total wind demand in 2028 - up from 10% in 2019 - and will narrow the gap with offshore upstream oil and gas in terms of capital expenditure deployment.
News Release
Global onshore wind industry to reach maturity in 2020s
- 05 February 2020
Solar power has emerged as the biggest threat to onshore wind's dominance in the decarbonisation battle. However, the tools available to the wind sector to combat this challenge are diminishing, according to Wood Mackenzie.
Comment
China’s demand drops for first time since 2009 as coronavirus hits oil markets
- 04 February 2020
The near-term impact of the coronavirus outbreak on oil demand remains uncertain as much depends upon when and how China’s manufacturing industry restarts after the currently extended Lunar New Year public holiday.
News Release
Global energy transition and supply issues key for aluminium in 2020
- 03 February 2020
Potential supply disruptions in the Gulf and West Africa are key to the outlook for aluminium in 2020, according to Wood Mackenzie.
News Release
2020 gets off to a bumpy start for the refining sector
- 21 January 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
2020 to be year of transition for global olefins industry
- 20 January 2020
Wood Mackenzie expects the combined capacity expansion of base olefins - ethylene, propylene and butadiene - to hit unprecedented levels of around 20 million tonnes in 2020. This represents an increase of 6% on 2019 levels.
Comment
China bans single-use plastic
- 20 January 2020
On 19 January, China's National Development and Reform Commission and the Ministry of Ecology and Environment announced policies aimed at restricting production, sale, and use of single-use plastic products.
News Release
Iron ore – 5 things to watch in 2020
- 20 January 2020
Slower demand growth (especially in China) and a decent recovery in seaborne supply will continue to feature prominently in the iron ore industry in 2020. Prices will fall, with annual average price forecast for 2020 at $80/t.
Comment
US and China sign Phase One trade deal
- 16 January 2020
Wood Mackenzie's Gavin Thompson provides a commentary on the US-China Phase One trade deal
News Release
Volkswagen to become world’s largest electric vehicle manufacturer by 2028
- 14 January 2020
Volkswagen has pledged to become carbon-neutral by 2050. Included in its roadmap for reaching this target is a plan to manufacture 22 million electric vehicles by 2028. Wood Mackenzie expects the company to miss this target. However, according to Wood Mackenzie's analysis, VW will hit 14 million EVs by 2028 - making it the world's largest EV manufacturer by the end of the decade.
News Release
Asia Pacific gas and LNG - 6 themes to watch in 2020
- 13 January 2020
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020.
News Release
North Sea to remain global hotspot in 2020
- 09 January 2020
It will be a noteworthy year for the North Sea – companies will increase production for the first time since 2017 and the outlook for both exploration and investment is looking healthy. The region will remain a global hotspot for deals as the corporate landscape continues to evolve. Crucially, the North Sea will also see major steps towards decarbonisation.

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