Page 2 - Macro Oils News Today

Last week's decision by the OPEC+ countries to cut their headline production limit by 2Mn barrels per day provoked some anger in the US.

Soaring global gas prices have sent a signal that more supply is needed. The US, soon to be the world’s largest LNG exporter, is responding to that demand “We have furnished the British great material support and we will furnish far more in the future. There will be no ‘bottlenecks’ in our determination to aid ...

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

Oil benchmarks swing in $5 range throughout session

Speaking after today’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “After unusual pressure from the US administration to lift its production, OPEC+ announced it is boosting output by 400,000 barrels per day (b/d) for December, in line with its 18 July 2021 agreement. “This will be seen as disappointing by ...

Is The World Sleepwalking Into An Oil Supply Crunch? Under-investment in oil supply will lead to a tight oil market later this decade. It’s a narrative that’s gained increasing traction as capital expenditure on upstream oil and gas has shrunk. Spend in 2021 is half the peak of 2014 after slumping to new depths in last year’s crisis. I asked Harry Paton of our Oil Supply team and Ann Louise Hittle, Head of Macro Oils, how they see the medium-term market fundamentals developing and the imp...

The National Wildlife Refuge System is an American institution, with roots going back to the early years of the 20th century. The Arctic National Wildlife Refuge in Alaska is its crown jewel, celebrated as “one of Planet Earth’s own works of art”. So, it is no surprise that the attempt to start oil exploration in ...

UN warns of runaway global warming May 27, 2021 2:42:pm Summary by: Daniel Graeber UN warns of runaway global warming The UN’s World Meteorological Organisation in a May 27 report said the odds that global temperatures could spike above pre-industrial levels are increasing quickly. There is a 90% chance that at least one year between now and 2025 will see the highest-ever annual average global temperature. In at least one of the next five years, there is a 40% chance that the global average t...

OPEC+ maintains production plan Speaking after OPEC+ announced its decision this afternoon, Ann-Louise Hittle, vice president, Macro Oils, said: “As we expected, OPEC+ is holding firm to its decision to increase supply, gradually and carefully, over the coming months. “The move comes as the group tries to balance risks – including the possibility of reduced demand from India as it struggles to control a devastating wave of Covid-19 infections – with signs of demand recovery elsewhere. �...

Action to achieve Paris climate goals will upend oil and gas markets Apr 16, 2021 10:30:am Summary by: Wood Mackenzie Action to achieve Paris climate goals will upend oil and gas markets 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 pow...