Global Industry: WoodMac Forecasts 2019 Oil Price
Brent will average $65 per barrel in 2019 and $68 per barrel in 2020, according to Wood Mackenzie’s (WoodMac) latest price forecast.
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Global Industry: Oil’s volatility hastening decline in oil-indexed LNG pricing
The pricing of often decades-long liquefied natural gas (LNG) contracts is becoming more unpredictable as a result of oil price swings.
Read MoreGlobal Industry: Oil May Never Return To The Triple-Digits
Despite the wild ride of oil prices in 2018—in which gains earlier in the year were wiped out in massive sell-offs in the fourth quarter—energy and banking professionals expect Brent Crude oil prices not to deviate too much from current levels in the next five years.
Read MoreAfrica Oil & Gas: Zimbabwe Now Has The Most Expensive Gasoline In The World
Zimbabwe is on a three-day nationwide strike and protests are erupting in the streets after the government of the southern African country doubled fuel prices, making gasoline sold in Zimbabwe the most expensive gasoline in the world.
Read MoreGlobal Markets: Oil Demand to Grow Steadily in 2020s
Oil demand will grow steadily in the 2020s and peak in the late 2030s, according to Rystad Energy’s current long-term outlook.
Read MoreGlobal Markets: Oil Halts Drop Near $51
(Bloomberg) — Oil halted its retreat near $51 a barrel on forecasts for a drop in U.S. inventories and as a rebound in equities signaled investor interest in risk assets was improving.
Read MoreGlobal Markets: Oil prices rebound as some traders say slide is overdone
Crude oil prices, caught up in the wider weakness of the financial markets, are staging a recovery today amid perceptions that the recent slide may have been overdone: WTI +6.1% to $45.11/bbl, Brent +4.8% to $52.91/bbl.
Read MoreGlobal Markets: What is Driving the Oil Price Down?
What is driving the oil price down is the fact that the market believes the market is oversupplied.
Read MoreGlobal Markets: OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls
Just a couple of weeks after OPEC and its partners agreed to implement another round of production cuts, the cartel is ready to extend these cuts as international prices continue to fall.
Read MoreAfrica Mining: SA Minister defends coal, complains about high electricity prices
Mineral Resources Minister Gwede Mantashe has defended the role of coal in the country’s energy mix and complained about the harmful effect of high electricity prices on the local beneficiation of minerals.
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