When the oil price defies the consensus

Article Abstract:

Petroleum prices have risen faster than forecasts and the general view is that prices will drop over the medium term. The Organization of Petroleum Exporting Countries will have to restrain output if prices are not to fall, and this restraint may not be achieved according to forecasts. NatWest Markets takes a contrary view and focuses on demand rather than supply. Demand from the former Soviet Union has been hit, but demand elsewhere is rising and this could push up prices.

Economic policy, Organization of the Petroleum Exporting Countries

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Explorers pay the price as crude reality beckons in 1999

Article Abstract:

Independent petroleum exploration companies have been hit by a drop in the price of petroleum, and a further slowdown for the world economy appears likely, which has led to downgrades for petroleum price forecasts. The cost structures of the explorers tend to be geared to prices at above 15 US dollars per barrel, and a drop to 10 US dollars means that they face severe pressures. Independent petroleum exploration companies such as Lasmo are shedding staff to cut costs.

World, Oil and Gas Field Services, Oil & Gas Field Services, Support Activities for Mining, Industry Overview, Natural gas exploration, Oil and gas exploration, Petroleum exploration

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Oil: mild outlook

Article Abstract:

The petroleum market saw a rise in demand estimated at 1.4% for 1994, with a similar rise forecast for 1995. Economic recovery should boost demand, especially in the Far East. Integrated oil concerns like Shell and BP are facing pressure on their refining margins, though chemicals operations are improving. Oil production and exploration concerns may find their prospects improve if prices rise in 1995, though in the short-term, their outlook does not appear good.

Oil & Gas Fields, Natural gas fields, Oil fields, Petroleum refining

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