Related Articles
Forward article link
Share PDF with colleagues

Standing still is not an option for oil firms

Next year will not see a return to business-as-usual. Companies should not deny the new paradigm, but embrace it

The global economy and capital markets have rebounded strongly—and much faster—than many predicted in the second half of 2020. But the optimism seems to be bypassing the oil and gas (O&G) industry. The Brent crude price benchmark, for example, remained largely rangebound around $45/bl since June 2020 and, even on the back of Covid-19 vaccine optimism, has struggled to decisively breach $50/bl as the year ends. Similarly, oil demand, which has recovered from April’s 25pc fall, is still 8pc below its pre-pandemic levels. In fact, the recovery in road and jet fuel demand growth moderated in late 2020 as Europe and the US struggled with second and third waves of Covid-19 infections respecti

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Restrained US shale set for cashflow pay-off
7 May 2021
Rebounding oil prices have boosted company balance sheets, but debt remains the priority over growth
Malaysia sweetens upstream deals
7 May 2021
The country is taking measures to encourage IOC interest in its latest licensing round
Murban’s long journey only beginning
6 May 2021
There will be no immediate promotion into the super league of global crude benchmarks for the Middle East’s latest challenger
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video