Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Israel’s gas performance chafes against narrow export horizons
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
Global oil benchmark resolves its existential crisis
The addition of US crude to the world’s top oil benchmark has finally solved its North Sea conundrum and laid down a marker for the future
Oil trading’s biggest bust – MG: The death spiral and aftermath
Kevin O’Reilly concludes the cautionary tale of the German conglomerate’s overreach with what went very, very wrong
Oil trading’s biggest bust – MG: Enter Arthur Benson
Kevin O’Reilly continues his three-part account of the hobbling of a German industrial giant with the arrival of the story’s central figure
Oil trading’s biggest bust – MG: What started to go wrong?
Kevin O’Reilly, with 27 years commodity trading experience, dives into one of the most compelling tales of how not to hedge your risks in the first of a three-part series
Chinese energy demand gets back on track
The signs point towards a comeback in 2023, but uncertainty around Covid remains a factor
Arrow flies against Colombian headwinds
The company does not seem concerned about the effect on its growth plans of the new government’s proposed oil sector reforms, and is even looking at potential acquisitions
US oil output to set new record
Partisan political rhetoric has not prevented production growth
Outlook 2023: Eye of the storm
The worst may yet be to come for European and global gas markets
Outlook 2023: Gas sellers beware
The golden age of gas has given way to the golden age of gas prices, with long-term implications for demand
BHP anticipates a structural supply-demand gap for oil through the 2020s
BHP Oil markets Natural Gas markets
Peter Ramsay
15 February 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

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
Countdown to Mozambique LNG restart
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
China creates two-tier oil dynamic
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search