What higher oil prices in 2024 could mean for the economy and politics

• 14 九月 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.

US anger at OPEC+ production cut

• 11 十月 2022

The decision provoked some anger in the US. But the actual production cut is smaller than the headlines imply, and is coming as global demand for oil is faltering.

Oil and Gas Emissions Benchmarking Tool

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

Trump and Biden seek the middle ground on energy

• 11 九月 2020

The two contenders for the US presidency have fundamentally different views on energy, but have been seeking to win over swing voters

Drone strikes attempt to disrupt Saudi oil exports

• 12 三月 2021

Houthi militants have failed in recent attempts to hit targets in Saudi Arabia. But markets and governments are watching closely for a possible threat to oil supplies

Energy transition glossary

• 21 八月 2024

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

The Energy Gang podcast: managing mid-transition

• 23 九月 2022

We often talk about “the energy transition”. In this episode, we discuss what it means to be in the middle of that transition.

NGLs & Petrochemicals

Our NGLs solutions provide traders and analysts with the accurate data and forecasts they need to complement and inform their models.

Australia’s east coast gas prices to bottom out over next two years

• 20 十一月 2019

In the latest Australia east coast gas market research, Wood Mackenzie projects that the LNG netback price for Australia’s east coast could bottom out to A$6.50 – A$9 per gigajoule (GJ) over the next two years.

European Investment Bank to cease funding fossil fuel projects

• 15 十一月 2019

The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.

Future of gas in energy transition to be defined in 2021

• 14 一月 2021

2021 will be a defining year for the gas and LNG industry, says Wood Mackenzie in its latest outlook report.

Biden administration and what it means for China and rest of Asia Pacific

• 20 一月 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.

China’s trucked LNG spot prices hit three-year high

• 12 一月 2021

Spot prices of trucked LNG in China were highly volatile last month.

Action to achieve Paris climate goals will upend oil and gas prices

• 15 四月 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.

UK charts course for net zero North Sea

• 06 五月 2021

The UK government and the country’s oil and gas sector recently agreed a deal to leverage the upstream industry's capabilities, accelerate the energy transition and help the North Sea reach net zero by 2050.

UK North Sea M&A gains pace with NEO, Waldorf deals

• 10 三月 2021

The latest acquisitions by NEO Energy and Waldorf Production continue what has been blockbuster start to the year for UK M&A with buyers and sellers buoyed by the recent recovery in prices. Just over two months into 2021 and UK disclosed deal spend has reached US$2.7 billion, almost equalling last year’s total, making it one of the hottest markets globally.

Santos announces Barossa project FID

• 30 三月 2021

Santos has sanctioned the Barossa project, which extends the life of Darwin LNG (DLNG) beyond 2040.

China’s pipeline reform: expect higher gas prices in the short-term

• 09 十月 2019

New research from Wood Mackenzie indicates that the creation of a national pipeline company in China is a step in the right direction but will result in higher end-user prices in the short-term as the country tries to balance institutional reform with implementation risks.

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

• 05 三月 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 二月 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.”

Over three quarters of new LNG supply could be impacted in 2-degree world

• 09 十二月 2020

Wood Mackenzie’s latest report shows that over three quarters or 77% of new LNG supply are at risk under a 2-degree scenario.

OPEC+ agrees to increase output after tense negotiations

• 07 十二月 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.

OPEC+ surprises market as it extends output curbs

• 04 三月 2021

OPEC+ took the market by surprise when it decided to roll over its quota, saying that rather than anticipate a demand recovery, the group would wait to see it actually recover. The market was expecting a substantial increase in production because a tightening in the supply and demand balance is already evident.

Qatar Petroleum takes FID on North Field East

• 09 二月 2021

Qatar Petroleum announced that it has taken final investment decision (FID) on the North Field East project.

Tapping working gas volume could cushion blow of Europe’s energy crunch

• 04 十一月 2021

European gas storage has been struggling to fill this summer. Storage at the beginning of November will be about 75% full, at 83 billion cubic metres (bcm), 14 bcm below the five-year average, rattling the market. A cold European winter could result in storage levels falling to zero by the end of March 2022, unless more Russian gas supply is available versus current export levels. But there could be an alternative available to the market should this come to pass – tapping the substantial amount of cushion gas available in Europe’s storage facilities. Global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK), said using cushion gas could allow an extra 15 bcm enter the market, easing the supply crunch.

US to release crude oil from strategic petroleum reserve

• 25 十一月 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).

Wood Mackenzie weighs in on COP26 key takeaways

• 15 十一月 2021

Following the conclusion of the COP26 on November 13, Wood Mackenzie experts weigh in on the key developments of the conference.

Nigerian lawmakers pass petroleum bill – but there is still work to do

• 02 七月 2021

Speaking after the Petroleum Industry Bill (PIB) was passed by the Nigerian National Assembly on 1 July, Mansur Mohammed, head of West Africa content on Wood Mackenzie’s sub-Saharan Africa upstream research team, said: “The Senate and House each passed different versions of the bill, which will now require reconciliation before it is sent to the president for assent into law. So there is still outstanding work to do before the PIB becomes law, but we see momentum behind the bill.”

UK gas output slump helps fuel price rally

• 08 九月 2021

UK gas production is down 28% year-to-date, helping fuel the current European gas price rally, global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) said.

China’s inaugural SPR auction unlikely to impact global crude oil markets

• 24 九月 2021

China begins the sale of its Strategic Petroleum Reserves (SPR) today. According to Wood Mackenzie, a Verisk business (Nasdaq:VRSK), the SPR auction is unlikely to have material impact on crude oil markets globally.