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The oil market is in a state of flux. Prices have fallen dramatically, and demand has taken a hit as measures are introduced across the globe to combat the spread of coronavirus. Saudi Arabia and Russia’s competition for market share has only exacerbated weak demand.
Competition is fierce and struggling Asian refiners must now take full advantage of the abundant crude options to maximise their margins.
The average retail gasoline price in the United States is now close to U.S.$3 a gallon, while in Germany, gasoline is retailing at an average of €1.40 per litre. We last saw prices like these in November 2014. Could we see a repeat of the 2014 reprieve?
We've condensed dozens of discussions at Wood Mackenzie's first Russia downstream forum and the 7th CIS Petrochemicals 2019 Conference into 4 of the hottest topics.
Russia is a major energy exporter and a key player in the global energy market. Despite its 6.5 million barrels per day of refining capacity, its critical role in the global refining industry is not often recognised. Alan Gelder explains Russia's role and influence in the global energy market.
Oil demand has gone into a tailspin. We now expect Q1 global oil consumption to be 2.7 million b/d lower than the same period a year ago.
Rising gasoline prices have become an economic problem for the US, adding to concerns about inflation, and a political problem for President Joe Biden. The administration has been trying different ways to bring them down, without much success.
Refining faces a significant threat from costly carbon exposure. Preparing for change is crucial.
A tumultuous year has highlighted some key truths for the downstream sector – and new performance benchmarks are being set.
Standout oil well performance in New Mexico, Saudi Aramco confirms its new dividend plan, the EU backs CCUS projects, the latest on superconductivity hopes, and more
And after the 12 months we’ve all just experienced, making bold predictions for the year ahead is more fraught than ever: nothing is off the table.
The US administration has suggested possible restrictions on imports of Russian oil. “Self-sanctioning” is already starting to have an impact
The company is taking a gloomier view of oil and gas prices over the next few years, prompting a writedown in asset values of up to $22 billion after tax
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