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What next for the oil market as the US reimposes sanctions on Iran?
Today China announced retaliatory tariffs on $60 billion worth of American imports, in response to the Trump administration's latest trade threats. The list included a 25% tariff on LNG.
A new study by Wood Mackenzie, examines this shift in the oil market, and assesses the challenges and opportunities facing the market and US producers and midstream operators.
The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the cuts will stick, a new survey released today by natural resources consultancy Wood Mackenzie indicates the pictured is more nuanced.
OPEC and non-OPEC producers agree to extend production curbs through 2018
Gas demand may be nearing a new peak due to stringent fuel efficiency standards and shifting demographics.
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