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Global Oil Market Update

Global Oil Market Update

Report summary

If oil demand growth slows below our forecast and OPEC does not agree on a production cut at its 27 November 2014 meeting, then Brent could test the US tight oil “floor” of $80 per barrel.

The effect on US tight oil production growth from Brent prices above $80 per barrel is minor for 2015-2016, if Brent prices remain above that level and WTI above $70 per barrel. This is based on our newly updated analysis of break even prices.

What's included?

This report includes 1 file(s)

  • Global oil market update 21 October 2014.pdf PDF - 3.66 MB


This Oil Markets Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an expert point of view to help inform your decision making.

Wood Mackenzie gives you an informed, independent view on oil prices and the key drivers and trends impacting the oil market. Our highly experienced macro analysts and regional sector teams are based in the key oil producing and consuming regions they analyse, providing detailed field data and demand forecasts driven by country and industry forecasts.

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