Energy Update Non-OPEC & non-US oil production holding up, for now Oil production outside the US and OPEC has been barely affected by the dramatic slump in prices over the last year. However, the effects of lower oil prices are likely to make themselves felt... 30th April 2015 · 1 min read
Energy Update US rig count continues to drop Another large fall in the US active rig count last week has disappointed those who had hoped it was stabilising. But they probably won’t have to wait too much longer to see a floor. 28th April 2015 · 1 min read
Energy Update Oil prices still face many headwinds The rebound in the last few weeks has lifted oil prices above our current end-2015 projections for Brent and WTI, but we are in no rush to change them. Some major headwinds both on the supply and... 20th April 2015 · 1 min read
Energy Update Oil spreads to continue narrowing The spread between the price of Brent and the price of the US benchmark oil, WTI, should continue to narrow over the next few years as the glut of crude which has been built up in the US recedes. 10th April 2015 · 1 min read
Energy Update Iranian oil likely to come back to the market, just not yet The preliminary deal reached between Iran and the Western powers should, eventually, allow Iranian oil exports to return to their previous levels. However, some of the finer details still have to be... 8th April 2015 · 1 min read
Energy Update No light at the end of the tunnel for coal prices We expect global demand for coal to be subdued and prices to fall further over the next few years as major consumers in China, the US and Europe continue to move away from coal power. 3rd April 2015 · 1 min read
Energy Update European gas prices heading back down We expect European natural gas prices to fall this year as greater supply and the impact of lower oil prices more than offset higher demand. 1st April 2015 · 1 min read
Energy Update Fallout from Yemen The recent developments in Yemen have caused oil prices to jump on fears of disruption to supplies. However we think that the impact on production should be minimal and even in the unlikely event of... 26th March 2015 · 1 min read
Energy Update Time to think again about US natural gas prices? A relatively mild winter, at least across most of the country, and a continued increase in production have allowed gas stocks to rebuild and prices to fall. However, a fall in the number rigs drilling... 20th March 2015 · 1 min read
Energy Update New lows for US oil price unlikely to be sustained The renewed decline in the price of the traditional US benchmark crude, West Texas Intermediate (WTI), to a six-year low of $43 per barrel, overstates the weakness in global oil prices. Other... 17th March 2015 · 1 min read
Energy Update How do lower rig counts affect oil production? We expect US oil production to peak in the middle of this year as the backlog of drilled but uncompleted wells is used up. This should help support oil prices, especially in the US, in the second half... 10th March 2015 · 1 min read
Energy Update China takes another step away from coal power We expect global demand for coal to be subdued and prices to fall further over the next few years as China continues to turn its back on coal. However, the downside should be limited by growing demand... 5th March 2015 · 1 min read
Energy Update What impact would an Iran-US nuclear deal have on oil prices? A deal between Iran and the West which allows for the removal of sanctions on Iranian oil exports is looking more likely. However, as always, the devil is in the detail. The most likely scenario in... 4th March 2015 · 1 min read
Energy Update Europe able to weather any disruption in Russian gas supplies We do not expect the latest dispute between Russia and Ukraine over natural gas to disrupt the supply to Western Europe. But even if did, the EU should still be able to cope reasonably well as warmer... 27th February 2015 · 1 min read
Energy Update Is OPEC likely to call an extraordinary meeting? We doubt that there will be an extraordinary meeting of OPEC anytime soon and, even if there is, policy is unlikely to change. The cartel’s current strategy of tolerating price falls to protect market... 26th February 2015 · 1 min read
Energy Update US natural gas to burn brighter this year A combination of lower production and higher demand means that US natural gas prices should rise over the next few years, regardless of the weather. 18th February 2015 · 1 min read
