LNG to slide, but crude prices to stay high – BHP
The Anglo-Australian miner sees continuing strength in oil markets
BHP “see[s] no clear directional bias for oil prices from current elevated levels, while LNG prices are more likely to move lower than to sustain (or set new) all-time highs,” according to the resources firm’s vice-president, market analysis and economics, Huw McKay. Oil demand “has, in general, been progressively more resilient to each successive Covid-19 wave, and the rebounds that we have observed from these progressively shallower demand dips have been consistently robust”, says McKay, citing use by trucking and light-duty vehicles (passenger cars, light trucks, vans and SUVs) and Asian petrochemical demand as particularly strong performers. “Even with only a partial rebound in aviation
Also in this section
8 May 2024
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies