• 3 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 6 minutes This Battery Uses Up CO2 to Create Energy
  • 10 minutes Phase One trade deal, for China it is all about technology war
  • 12 minutes Trump has changed into a World Leader
  • 8 hours Indonesia Stands Up to China. Will Japan Help?
  • 1 hour We're freezing! Isn't it great? The carbon tax must be working!
  • 58 mins Shale Oil Fiasco
  • 15 hours Might be Time for NG Producers to Find New Career
  • 2 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 18 hours Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 12 hours Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard
  • 8 hours Beijing Must Face Reality That Taiwan is Independent
  • 14 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 19 hours China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 1 day US Shale: Technology
  • 2 days Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
Alt Text

The Oil Industry’s Radioactive Secret

An investigative journalist has written…

Alt Text

The Shipping Industry’s $1 Trillion Problem

The global shipping industry is…

Alt Text

Hydrogen Costs Could Be Set To Plunge By 50%

Hydrogen, while still expensive today,…

Editorial Dept

Editorial Dept

More Info

Premium Content

Oil Market Volatility Surges

Friday May 24, 2019

1. Offshore spending on the rise

(Click to enlarge)

- Offshore investment is surging once again, although the uptick may only prove to be temporary.

- The services market for offshore drilling will slow from 7 percent annual growth per year in 2019-2022 to just 3 percent from 2022-2025, according to Rystad Energy.

- Higher prices has sparked more investment, but the resulting supply increase could push prices back down, cratering investment all over again. Roughly 5 million barrels of oil equivalent per day (boe/d) from the latest round of investment will begin production from 2022.

- Offshore projects, unlike short-cycle shale, depend on price stability. “Just how things ultimately play out in the offshore market will depend to a large extent on whether OPEC, with help from Russia, will decide to take serious measures to stabilize the market over the next years,” Audun Martinsen, Head of Oilfield Service Research at Rystad Energy, said in a statement. “If the group decides to rein in production to protect commodity prices, momentum in the offshore market could continue. If not, the offshore renaissance party seems destined to come to an end in 2022.”

2. Palladium still undersupplied

(Click to enlarge)

- Palladium prices have surged in recent years, a material used in automobile technologies to control emissions. The rise of electric vehicles and other pollution…




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play