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OPEC+ off-target in July
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
The great OPEC+ reset
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
Difficult times for Germany’s downstream
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
Canada enters the global LNG race
Owing to social, political and geographical factors, Canadian LNG projects are a complex proposition versus competing facilities on the US Gulf of Mexico
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
Trends Opec Oil markets Natural Gas markets Low carbon energy markets
Jon Clark
10 July 2018
Follow @PetroleumEcon
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Markets on the rise

The oil-price recovery has helped to improve the outlook for oil and gas capital markets

Capital raised by oil and gas companies reached $530bn in 2017. Although a partial recovery from 2016's nadir, this remains low compared to recent historical levels and is around 70% off the peak we saw in 2014. In 2017, all sources of capital—loans, bonds and equity—came in at lower than the five-year average. While access to capital has undoubtedly improved, a host of other factors are also at play. Internal cash generation has recovered along with commodity prices. In parallel, capital discipline and efficiency measures have reduced the sector's capital intensity to some extent, and alternative sources of capital such as forward sales or divestments to private equity are also increasingly

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