In 2023, the price of Brent crude averaged USD 82.5, falling from over USD 100 in 2022, driven by the war between Russia and Ukraine, although its trend over the past year has been somewhat erratic and dominated by a wide array of events.
The analysis employed a log-log multiple regression method using ordinary least squares, with oil price as the response variable and the other factors mentioned as predictor variables. The results from the regression analysis were complemented with trend analysis of these factors with oil prices. It...
From the perspectives of reshaping oil and gas production areas due to the pandemic and Russia-Ukraine conflicts, geopolitical crises, capital expenditure structures in petroleum exploration and development, and the proactive layout of oil and gas associated resources, the trend of global oil and gas...
The post-pandemic inflation, Russia’s invasion of Ukraine, and the conflict in the Middle East have caused the monthly fuel energy price index to reach unprecedented highs in the last few years, peaking at 376 in August 2022. Showing a downward trend in 2023, the annual weighted price ...
Earlier this month, Citi and Barclays, two major global banks, raised their oil price forecasts citing the effects of Russian crude oil sanctions and delays in the renewal of the Iran nuclear deal-without which there will be no meaningful increase in crude oil exported from Iran. ...
Jim Ritterbusch, president of Ritterbusch and Associates in Illinois, said the oil market would likely require a distinct down trend in the virus that would allow China to re-open its economy. Daily crude processing in China, the world's biggest oil importer, fell to its lowest in July since...
Little crude storage capacity • No access to market or storage globally. • Producers will shut in. Trend in the future • Major oil producers’ supply curtailment helps tighten market in 2020H2. • In the short term, distress still remains, as forward price curves show. ...
for oil is that we are close to peak demand. But there is very little evidence from history to show that demand drives super cycles, reported investment houseBernstein. A super-cycle is generally defined as an increase in oil price of several multiples over and above the long-term trend. ...
The market price for crude oil and naphtha will likely rise as crude runs increase to meet rising demand for distillate bunker fuels. In Asia, the ethylene/naphtha spread narrowed to an average of $152.63/mt on October 25, 2019, the lowest level since May 2012, and lower than the typical...
Because of this, we raise our 3-month WTI oil price expectation to USD 90/bbl. On a 12-month horizon, we expect it to trend lower towards USD 75/bbl. The global crude oil consumption growth y/y has declined amid a slowing Euro area and Asia, but oil’s slowing supply growth risks...