What's Wood Mackenzie's forecast for the annual average oil price in 2019?

• 22 1月 2019

Find out what oil price we think is justified by the fundamentals. And what macroeconomic factors could dampen the oil price further.

Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

• 16 4月 2020

Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.

Oils & chemicals: 5 things to watch for in 2025

• 11 12月 2024

Our view of the year ahead, including the impact of Trump's re-election on our oil price forecast, a look at refining margins, ethylene capacity and China's overcapacity affects downstream chemicals markets.

US to release crude oil from strategic petroleum reserve

• 25 11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).

Conventional pre-FID breakevens give the Lower 48 a run for its money

• 14 3月 2018

Analysis of global oil cost curves indicates that many conventional pre-FID projects – even deepwater developments - are now competitive on a breakeven basis with US Lower 48 tight oil. However, this competitiveness has come at the expense of volumes. The trade-off of cost efficiency versus volumes means that in the medium- to long-term, the cost of supply is set to increase, highlighting the US Lower 48’s role as an important marginal barrel producer.

Oil demand to continue to set records in 2024

• 11 1月 2024

Global oil demand is due to rise by almost 2 million barrels a day (b/d) in 2024, with China accounting for over 25% of that increase according to a report by Wood Mackenzie.

Coal enjoys a temporary reprieve

• 09 7月 2021

Reports of the death of coal have been greatly exaggerated. Demand has been bouncing back this year as the world economy picks up again, and some prices have hit their highest levels for more than a decade.

Why oil is pushing towards US$100/bbl…

• 18 2月 2022

What's driven the rally, what is the outlook for supply and demand fundamentals in 2022, and how will geopolitics, including the Russia/Ukraine crisis, play out?

Five constraints on US tight oil production

• 23 10月 2020

The 2020 collapse in oil price hasn’t just killed tight oil’s growth, it smashed volumes down in the space of just a few months. The big question is whether it will ever return to a growth path.

Upstream KPIs turn positive

• 19 12月 2017

We've had the best year for the oil and gas industry for some time: KPIs have turned positive. Brent looks set to end 2017 over US$60/bbl, up 40% from the summer lows.

Global upstream: 5 things to look out for in 2019

• 11 1月 2019

The global upstream fundamentals for 2019 are encouraging, despite recent price volatility. Angus Rodgers explains why in this look ahead at five big themes in upstream oil and gas in 2019.

Saudi attack, geopolitics and oil markets

• 20 9月 2019

The attack on Saudi Arabia’s oil infrastructure took out over 5% of global oil supply and temporarily pushed up prices by 20%. What does the attack say about the security of oil’s supply chain?

How the oil market plays out in 2021

• 15 1月 2021

Oil prices are on a roll, the 10% jump in January means Brent has tripled since the dark days of April 2020. How will the oil market develop in 2021 and can the price rise further still?

Macro Oils Service

Easily understand trends in the global oil market with our informed, independent view on oil prices and their key drivers.

Macro Oils Service

Easily understand trends in the global oil market with our informed, independent view on oil prices and their key drivers.

What does the US-China trade deal mean for refiners - and for the market?

• 20 1月 2020

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?

Oil supply cuts could curtail 15% of ethylene supply in Middle East

• 13 5月 2020

Approximately 15% of ethane-based ethylene supply in the Middle East could be lost this year due to oil supply dynamics, according to new analysis from Wood Mackenzie. This equates to around 1.5 million tons of ethylene.

Oils & chemicals: 5 things to watch for in 2024

• 11 1月 2024

Calmer waters are expected for the oils, refining and chemicals industries in 2024 – but that doesn’t mean it’s plain sailing. What are the top trends to track for the year ahead?

APAC markets driving global oil demand in 2024/25

• 29 2月 2024

Global oil demand growth will rise by 1.9 million barrels a day (b/d) in 2024 with key markets in the Asia Pacific (APAC) region being the main driver, accounting for over 63% of the total according to Alan Gelder, Vice President of Oils Research at Wood Mackenzie.

Six themes shaping the energy world in 2024

• 09 1月 2024

What opportunities, challenges and risks does the world of energy and natural resources face in 2024? Our experts share their thoughts.

Why oil price recovery has further to run

• 05 6月 2020

Will the effect of coronavirus be more lasting for demand or supply? Will the oil price be lower-for-longer? Or, if demand recovers, could the sharp reduction in upstream investment lead to a tighter market and higher prices? Find out more in this week's Edge.

Saudi Arabia’s price push for oil market dominance in Asia

• 21 4月 2020

Competition is fierce and struggling Asian refiners must now take full advantage of the abundant crude options to maximise their margins.

Have we passed ‘peak growth’ for tight oil?

• 25 2月 2020

Have we passed 'peak growth' for tight oil? What are the implications of slowing growth for the crude market? And how will pipeline owners adapt their strategies? Find out in this week's Edge.

There's light at the end of the tunnel for refiners

• 31 1月 2019

The second half of 2018 was a very challenging time for refining. This weak commercial performance was due to a whole host of adverse market developments. Are these developments temporary or are they here to stay?

Russian Federation upstream: 5 things to look for in 2019

• 19 12月 2018

2019 will be a big year for Russia's upstream sector. What are the big things to watch? Get the top 5 here.

A return to optimism for mined commodities?

• 30 6月 2017

Will commodity price and global demand remain subdued, and will carbon-constraint policies restrict outputs?

Oil Supply Model

A robust supply demand model to drive informed investments and strategic success

Coronavirus, China and the big oil crash

• 12 3月 2020

Recent events have created a perfect storm in the oil markets, the likes of which have never been seen before. Do these clouds carry any silver lining? Listen to the latest episode of the Asia Pacific Energy podcast.

China’s demand drops for first time since 2009 as coronavirus hits oil markets

• 04 2月 2020

The near-term impact of the coronavirus outbreak on oil demand remains uncertain as much depends upon when and how China’s manufacturing industry restarts after the currently extended Lunar New Year public holiday.

Lower 48 oil and gas economics Q4 2023: three key takeaways

• 16 4月 2024

As winter 2023 comes to an end in the US, read about some of the key gas production and pricing updates from the last quarter