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Letter from Austria: OPEC delivers wake-up call
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
OPEC+ still showing restraint
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
OPEC+ keeps more barrels off market in April
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
OPEC compliance improves amid market share threat
The surprise decision to bring on extra supply has coincided with better quota conformity from laggards in the group, Petroleum Economist analysis shows
OPEC+ plays with a straight bat
The oil alliance’s decision to keep to the plan amid tightening economic fundamentals seems to have been lost in the global geopolitical maelstrom, misplaced market speculation and haze of conjecture
Letter from the UK: A positive legacy for OPEC?
Oil producer group could spearhead the shift to cleaner energy in member countries and be part of transition solution
UAE could be big winner from Aramco U-turn
Saudi Arabia’s decision not to expand capacity target seen as bolstering UAE’s position within OPEC+
Shell ExxonMobil MOL Opec
Ian Lewis
22 September 2017
Follow @PetroleumEcon
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Refiners should expect the unexpected

Trend spotting is easier said than done in the refining sector

Refiners will need to be nimble to survive in a world of reduced demand for fossil fuels from the transport sector and those plans need to be put in motion now if they are to survive. Mol is a case in point. Around 70% of the company's output from its refineries in Hungary, Croatia and Slovakia, which mainly serve central European markets, is refined products for the transport sector. By 2030, the company plans to increase its non-fuel production, largely targeting the petrochemicals industry, to 50% of total output, compared with the current 30%. "This does not mean we will destroy our capability to produce diesel and gasoline [if margins stay high]," says Ferenc Horvath, head of the compan

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