Supply outlook tightens as OPEC+ prepares to meet

• 01 July 2021

As OPEC+ meets on 1 July, oil prices are supported by tightening oil market fundamentals for the second half of 2021. Global natural resources consultancy Wood Mackenzie forecasts total oil demand to rise 5.9 million barrels per day (b/d) year-on-year for 2021.

Producing green LNG is key for Australia to remain competitive

• 17 June 2021

Australian producers need to be at the forefront of green LNG to remain competitive, says Wood Mackenzie.

NEA Gas Forum - the future of gas is Asia and the prize is large

• 09 June 2021

Wood Mackenzie experts discussed key drivers of Asia Pacific gas markets at the Northeast Asia Gas Forum today.

Europe emerges as global LNG price-setter

• 27 May 2021

Global liquefied natural gas (LNG) markets were set to tighten over the next five years, driven by a slowdown in global LNG supply growth. But Europe’s market dynamics are turbo-charging the price recovery, with TTF currently trading close to US$9 per million British thermal units (/mmbtu), a level not seen since mid-2018. Following the recent winter spot price spike in Asia, the European market has been sustaining global LNG prices, making the region a battleground for global LNG price formation, new research from global natural resources consultancy Wood Mackenzie found.

Colonial Pipeline cyberattack may benefit European refiners

• 10 May 2021

The 2.5 million barrels per day (b/d) Colonial Pipeline moves roughly 45% of the US East Coast's supply of gasoline, diesel, and jet fuel from the Gulf Coast. The duration of the outage following the cyberattack on 7 May 2021 is uncertain. In the short term, Wood Mackenzie expects fuel demand and prices to rise in PADD 1, prompting refined fuel inventories to decline and PADD 1 refiners to maximize production.

OPEC+ maintains production plan

• 27 April 2021

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

Will higher oil prices spell trouble for upstream discipline?

• 19 April 2021

In its rebound from the 2020 downturn, Brent flirted with US$70 per barrel. Higher prices in 2021 mean higher cash flow for producers, perhaps even record-setting highs. Have the good times returned? Global natural resources consultancy Wood Mackenzie believes operators need to be cautious.

Asia’s ambitious biofuels plans thwarted by supply constraints and food security concerns

• 31 March 2021

Asia’s ambitious biofuels blending targets will be a challenge to meet due to supply constraints and food security concerns, says Wood Mackenzie.

Chinese NEV and HEV sales to rise over 15-fold by 2035

• 23 March 2021

Sales of China’s new energy vehicles (NEV) and hybrid electric vehicles (HEV) combined are expected to rise 15-fold or more by 2035 with their share in total new car sales exceeding 80%, says Wood Mackenzie.

China’s green ambitions can complement energy security and economic goals

• 18 March 2021

Wood Mackenzie’s latest report reveals that China’s march towards carbon neutrality by 2060 can complement both energy security and economic goals.

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

• 28 January 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.

Women in energy

• 23 July 2020

We showcase research and analysis from some of our most accomplished and influential women in energy and natural resources. Meet some of the many outstanding women we're proud to work with – and explore their latest thinking.

US shale gas is back: new demand signals underpin upstream opportunity

• 09 October 2025

Which companies and areas are best positioned to capitalise on a structural shift in US gas demand?

Crude Trade Service

Get a global view of future crude trade and accurately assess how market events affect crude supply, demand, trade and crude price differentials.

Oil

• 16 November 2020

Stay ahead of the oil market with our real-time, proprietary data collected by patented monitoring technology.

All eyes on OPEC meeting as group mulls easing of production restraint

• 01 December 2020

OPEC held its scheduled bi-annual meeting virtually on 30 November 2020. Though the group was unable to reach an agreement at that meeting, up for discussion is whether the production restraint would be eased starting 1 January 2021.

Five consequences of a Biden administration for US energy

• 07 November 2020

Joe Biden offered American voters a radically different vision of energy policy from President Donald Trump, focused on addressing the threat of climate change. He will enter the White House with a goal of setting the US on course for net zero greenhouse gas emissions by 2050 and will take the US back into the Paris climate agreement.

China pledges to be carbon-neutral by 2060

• 23 September 2020

On 22 September, China announced its ambition to be carbon-neutral by 2060. Wood Mackenzie experts weigh in on what this means.

Asia Pacific’s oil demand to fall in 2020 but could rise 25% by 2040

• 28 July 2020

According to a new report by Wood Mackenzie, oil products demand in Asia Pacific is expected to fall by 1.8 million barrels per day (b/d) year-on-year in 2020.

Argentina weighs new price subsidy, but freezes gas tariffs

• 25 June 2020

Gas pricing and market regulation are again under discussion in Argentina. The coronavirus pandemic has weakened an already vulnerable economy, with the impact felt in the gas market. To maintain low gas prices for end-users, the new administration has imposed a tariff freeze until the end of 2020.

BP asset write-down 'is significant for sector'

• 16 June 2020

Speaking after BP announced it was writing down as much as $17.5 billion when it reports its second quarter results, Luke Parker, vice president, corporate analysis, said: “The impairment shouldn’t come as a big surprise, but the implications – near-term and long-term – are significant.”

Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

• 06 June 2020

OPEC+ today (6 June 2020) agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.

UK gas market faces Covid-19 deadlock

• 21 May 2020

The UK gas balance has reached a deadlock for the summer. Resilient UK production, Norwegian imports and baseload LNG imports are overwhelming the market with supply. And with lockdown placing huge pressure on electricity and fuel markets, demand will be weak throughout the summer.

Ukraine may hold key to Europe’s gas storage crunch

• 16 April 2020

European gas storage is almost full to the brim – and with the mild weather, coronavirus lockdowns hitting demand and an over-supplied market, levels are not likely to drop soon. New analysis from natural resources consultancy Wood Mackenzie suggests October may prove critical for the market – and highlights a potential solution to the storage crunch.

Shell 'to be net-zero company by 2050'

• 16 April 2020

Commenting after Shell announced its intention to become net-zero company by 2050, Luke Parker, vice president, corporate analysis, at Wood Mackenzie, said: “This is an evolution of the net carbon footprint ambition that Shell unveiled in November 2017.

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.

India’s 21-day lockdown – Impact on commodities?

• 30 March 2020

India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.

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.

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?

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.