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OPEC+ maintains production plan

27 4月 2021

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

News Release

OPEC+ set to make its choice

05 12月 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 stays the course with production deal

01 12月 2017

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

News Release

Implications of OPEC+ meeting for H2 2023

07 6月 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+ aims for balance as it rolls over output curbs

02 7月 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

Non-OPEC decline rates to remain stable until 2020

27 9月 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 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

OPEC+ set for rollover but risk clouds supply outlook

30 6月 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+ ‘no deal’ a blow to the market

06 3月 2020

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

News Release

OPEC+ deal balances consumer pressure with need for stable prices

23 6月 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+ prepares for market uncertainty with continued 2 million b/d production cut

06 12月 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+, Covid-19 and energy transition – 3 themes impacting oil markets and refining in 2021

28 1月 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

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.

News Release

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

19 1月 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 4月 2020

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

News Release

Oil demand to continue to set records in 2024

11 1月 2024

Global oil demand is due to rise by almost 2 million barrels a day (b/d) in 2024, with China accounting for over 25% of that increase according to a report by Wood Mackenzie.

News Release

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

14 3月 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

APAC markets driving global oil demand in 2024/25

29 2月 2024

Global oil demand growth will rise by 1.9 million barrels a day (b/d) in 2024 with key markets in the Asia Pacific (APAC) region being the main driver, accounting for over 63% of the total according to Alan Gelder, Vice President of Oils Research at Wood Mackenzie.

News Release

Oil supply cuts could curtail 15% of ethylene supply in Middle East

13 5月 2020

Approximately 15% of ethane-based ethylene supply in the Middle East could be lost this year due to oil supply dynamics, according to new analysis from Wood Mackenzie. This equates to around 1.5 million tons of ethylene.

News Release

What's behind Libya's production boost?

20 10月 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

Surge in oil hedging could worsen US supply glut

27 3月 2017

Those hoping that recent oil-price weakness will prompt US producers to pull back drilling activity and ease the glut of oil supply may need to keep waiting.

News Release

Four signposts for the chemicals industry under a Biden administration

16 11月 2020

The Democrats are expected to retain control of the US House of Representatives, but the Senate will be determined by upcoming run-offs in the state of Georgia. While the chemicals sector is expected to see few direct impacts, there are several themes that should be watched closely.

News Release

Key things to watch in upstream in 2024

11 1月 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

2020 gets off to a bumpy start for the refining sector

21 1月 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

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.

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

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.

News Release

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

27 3月 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

Major energy exporters race to lead in global hydrogen trade

28 10月 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 29 results

OPEC+ maintains production plan

OPEC+ set to make its choice

OPEC stays the course with production deal

Implications of OPEC+ meeting for H2 2023

OPEC+ aims for balance as it rolls over output curbs

Non-OPEC decline rates to remain stable until 2020

OPEC producers key to world supply through to 2040

OPEC+ set for rollover but risk clouds supply outlook

OPEC+ ‘no deal’ a blow to the market

OPEC+ deal balances consumer pressure with need for stable prices

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

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

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

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

Oil demand to continue to set records in 2024

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

APAC markets driving global oil demand in 2024/25

Oil supply cuts could curtail 15% of ethylene supply in Middle East

What's behind Libya's production boost?

Surge in oil hedging could worsen US supply glut

Four signposts for the chemicals industry under a Biden administration

Key things to watch in upstream in 2024

2020 gets off to a bumpy start for the refining sector

Energy transition to drive refinery and petrochemicals integration

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

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

Major energy exporters race to lead in global hydrogen trade