Global upstream update: diverging development strategies in Latin America, investment at risk in Africa, and Kazakhstan supply tensions explained

• 17 6月 2025

Our Global Upstream Update presents timely analysis of key industry topics from our regional experts situated around the world.

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.

Upstream’s mounting challenge to deliver future oil supply

• 10 7月 2025

The industry needs to look beyond short-term price volatility.

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.

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.

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?

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?

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.

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?

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.

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.

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?

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?

Coronavirus pushes oil towards the abyss

• 06 4月 2020

As demand collapses, how will the market deal with oversupply? Find out in this week's Edge.

Kazakhstan’s upstream sector takes stock after nationwide unrest

• 19 1月 2022

For the global and regional energy sector, Kazakhstan’s stability matters. What are the short- and long-term consequences of recent events?

Preparing for ADIPEC 2024: 3 crucial questions answered

• 25 10月 2024

ADIPEC will take place from 4-7 November in Abu Dhabi. The event will focus on the role of energy in driving a comprehensive transformation that benefits people, the planet, and our collective prosperity.

Oil producers cautious as recovery hopes rise

• 20 11月 2020

Good news on Covid-19 vaccines points to a rebound next year, but there are still some difficult months ahead

The US LNG boom is back

• 07 1月 2022

US LNG export plants are working flat-out to meet strong global demand for gas that has been reflected in soaring prices. With new capacity coming on stream late in 2021 and early in 2022, the US is emerging as the world’s largest LNG exporter.

Coronavirus makes cost control and operational efficiency more relevant than ever

• 19 3月 2020

Upstream cost control and operational efficiency more relevant than ever, what are the major drivers?

What's behind Libya's production boost?

• 20 10月 2017

Libya's oil production has increased steeply from August 2016’s low point of below 300,000 barrels per day (b/d) to around 850,000 b/d at present, passing the 1 million b/d barrier in July. But Wood Mackenzie believes Libya may now be reaching its near-term production limits and future growth will be gradual.

Oil Supply Tool

Understand the prospects for future oil and NGL supply, and make astute planning, trading and investment decisions.

Oil Supply Tool

Understand the prospects for future oil and NGL supply, and make astute planning, trading and investment decisions.

Trump’s tariff plan: implications for the future of global liquids trade

• 01 10月 2024

A new tariff plan on imports would affect US consumers, global oil markets and refining, if implemented post US election.