Global Oil & Gas: “Why the oil industry is bouncing back” – The Economist

PROUDLY, they call themselves elephant hunters. They are the geologists who scour the treacherous depths of the Arctic, or Brazil’s Atlantic pre-salt fields, or offshore west Africa, or the deep waters of the Gulf of Mexico, hoping to bag giant oil discoveries that can generate billions of dollars of cash for their firms over a span of decades. In some cases, they get naming rights. The Gulf of Mexico is peppered with fields named after…

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THE ECONOMIST: Volatility around the trend

The recent fall in oil prices took many people by surprise, but the underlying trends have been building for some time. The downwards price pressure is coming from increased US oil output, more competition from natural gas, weak GDP growth in the OECD and improving energy efficiency in the emerging world. None of these factors is going away anytime soon, although OPEC is doing its best to counteract the first. At the EIU we think…

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