BHP anticipates a structural supply-demand gap for oil through the 2020s
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
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
