Oil Supply Expected to Grow Faster Than Demand
North America to be a net exporter within three years.
IEA on June 17 released its Medium-Term Oil Market Report. Rystad Energy has compared the revised IEA demand outlook with own supply estimates deriving from its global upstream database UCube. The estimates are based on Rystad Energy's bottom-up analysis of 30,000 fields and 2,500 oil companies in 150 countries.
Analysis shows that oil markets have gradually been tightening over the last two years while the outlook indicates a possible inflection point early 2015 and an increasing downward pressure on oil prices for the coming two-three years. The recent geopolitical outages of oil production from the Middle East and North Africa has until now been perfectly balanced by the increased supply of unconventional tight oil from the United States. This predicted easing of the oil markets is partly driven by an assumption of gradual return over the next two years of oil from Libya, Iran, Iraq and Sudan, while US drillers are continuing their activities with unchanged intensity and increased efficiency.
Rystad Energy now forecasts North American tight liquids production to pass 10 million barrels before 2020 making North America a net exporter of seaborne crude and petroleum products within three years from now.
Posted: 03/22/2016 15:50:00
Posted: 03/23/2016 17:57:00
FOCUS on the Middle Market: When, Why and How in Selling Your Business - with Alan Scharfstein of The DAK Group
Posted: 01/04/2016 13:17:00
2016 CEO Connection Mid-Market Convention
For more information, click here.Sep 18, 2016
Midsize Enterprise Summit
September 18-20, Austin, TXSep 18, 2016
MIDTECH Fall Mid-Market IT Summit
September 25-27, Chicago, ILSep 25, 2016
National Summit for Middle Market Funds
October 9-11, 2016 - Palm Beach, FLOct 9, 2016
NOV 1-3, Naples Grande Beach Resort in Naples, FLNov 1, 2016
CIO MidMarket Summit
November 17, Washington, DCNov 17, 2016