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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.
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.
Wood Mackenzie’s 2020 Energy and Commodities Summit Asia Pacific edition kickstarted yesterday. Experts shared their views on how the energy sector is changing in light of the oil price crash, Covid-19 and the latest carbon-neutrality trends.
India is expected to overtake China as the world’s largest liquefied petroleum gas (LPG) residential sector market by 2030.
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.
According to the latest analysis by Wood Mackenzie, China’s oil demand will recover to 13 million barrels per day (b/d) in Q2 2020, a 16.3% jump compared to Q1 this year.
A new report from Wood Mackenzie shows that olefins production losses in Asia have reached historical highs as a result of regional lockdowns in the wake of the coronavirus outbreak.
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.
Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.
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.
Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.
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.
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.
India's 2020 energy outlook
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.
After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by US$52.4 billion above 2017 levels over the next two years. What could it mean for the oil market?
Wood Mackenzie's Gavin Thompson provides a commentary on the US-China Phase One trade deal
This attack has material implications for the oil market, as a loss of 5 million barrels per day of supplies from Saudi Arabia cannot be met for long by existing inventories and the limited spare capacity of the other OPEC+ group members. A geopolitical risk premium will return to the oil price.
Despite speculation that a No-Deal Brexit would have a severe impact on the UK refining industry, Wood Mackenzie’s analysis indicates that while the sector’s dynamics would shift and margins will narrow, it would not be crippled.
Saudi Aramco is to set to take a 20% stake in Reliance Industries' refining and petrochemical businesses.
According to research by Wood Mackenzie, Chinese textile producers are increasing production as fears grow that the trade war with the US will hurt exports of apparel and other textile products as soon as the fourth quarter of 2019.
Philadelphia Energy Solutions (PES) will close its oil refinery in the city, following a large fire last week that damaged the complex.
A large fire at the Philadelphia Energy Solutions (PES) oil refinery in Philadelphia has halted gasoline production at the complex.
Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in on what this means for the different sectors.
Saudi Aramco’s decision to issue a $10 billion bond underscores how serious the company is about transforming itself into an international powerhouse across the oil and gas value chain, from upstream to petrochemicals.
The sanctions the US government has imposed against Venezuela aim to curb the Maduro government’s access to revenue from crude export. But impact could they have on state-run oil producer PDVSA and the country’s energy sector?
The US is poised to impose fresh sanctions on Venezuela, ratcheting up the stakes in the country's political crisis by curbing the Maduro government's access to cash from crude exports.
India's oil demand is expected to grow by 3.5 million barrels per day (b/d) from 2017 to 2035, accounting for one-third of global oil demand growth. India's demand is driven by rising income levels, an expanding middle class and a growing need for mobility.
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.
Following China's imposition of retaliatory tariffs on US goods over the weekend, our experts weigh in on the potential impact the move will have on different commodities.
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