News & Analysis - Oil
March 30, 2015
During periods of low oil prices, opportunities to acquire exploration and production assets at bargain prices often present a silver lining for well-capitalized companies.
March 26, 2015
On March 28, Africa’s biggest economy and the continent’s largest oil producer will go to the polls to elect its new president. Eklavya Gupta explains what it could mean for the oil industry.
March 23, 2015
The Falkland Islands, off the coast of Argentina, are the focus of a new production push, but sovereignty and price concerns could put a crimp in plans, as Robert Perkins explains.
March 20, 2015
Vandana Hari evaluates what an uptick in oil product sales in India, China and the US says about actual demand and consumption into the future.
While winning bids at the 2015 US Central Lease Sale 235 were down from 2014, prices per acre for the ability to potentially produce oil offshore were among the highest of the last 20 years. The debate over expanding US crude exports comes as the American fossil fuel industry finds itself in the midst of a "body swap" movie: policy has not kept pace with a radical change. Assessing the outlook for ExxonMobil's continuing operations in Russia against the backdrop of international sanctions against the country. The differential for LHS strengthened week-on-week, as demand for light sweet crudes in the region increased, and the cash differentials for LLS and WTI in Midland, Texas, also increased.
Also in this feature
Increased demand lifts LHS differentialMarch 06, 2015 - The LHS differential moved 15 cents/b higher week-on-week, supported by healthy demand for light sweet crude at Magellan's East Houston crude terminal.
It could be argued that the history of oil is the history of the modern world. And Platts, a leading provider of analysis, news and prices for the industry, has played a significant role in this amazing story.
Of all the natural resources that have been used to build our world, surely oil is the most pervasive. We all know that oil provides the plastics in the computer we use, has driven revolutions in fashion, industry and transport, and even powers our homes. No one's life is untouched by this immense resource.
US investment bank Goldman Sachs cut sharply Monday its forecasts for average oil prices in 2015 but said sliding US shale production could see the global oil market rebalance by the end of the year. Goldman said it expects Brent crude to average $50.40/b a barrel from $83.80/b, as global oil price continue to their rapid descent into near six-year lows. WTI is expected to average $47.15 a barrel, down from a previous forecast of $73.75/b, the bank said.