Thursday, February 9, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Market Middle East

Manufacturing holds key to oil and gas recovery

June 10, 2020
in Middle East
Manufacturing holds key to oil and gas recovery
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Saudi Arabia may cut September crude oil prices to Asia: survey

Tomato Seed Oil Market 2020

A revival in manufacturing across the world holds the key to the mid-term recovery of oil and gas markets, with consumer demand likely to lag as the energy industry begins to recover from the twin shocks of the Covid-19 crisis and the resulting demand crash.

 

Participating in the latest online Adipec Energy Dialogue, Rachel Ziemba, an economic and political risk expert and Founder of Ziemba Insights, said the early signs from China, the first major economy to exit from the Covid-19-induced lockdown, are that manufacturing has bounced back more than consumption and that trend could be repeated in other countries.

 

“It is notable that the Covid-19 crisis and the associated economic and energy crisis has really been the first to blow out the global consumer,” Ziemba said. “2008 was much more of a hit to the financial sector and manufacturing. This time it is the reverse. The big question is how quickly consumer demand will come back.”

 

Ziemba added it could be well into 2021 before oil and gas markets get to volumes approaching where the industry was at the end of 2019.

 

Looking at the trends likely to impact the recovery of oil markets in the mid-term, Ziemba said the Opec Plus group of producers has had some success in tightening the market. But a question mark hangs over how long supply can be constrained.

 

“The challenge is that a few countries, those that are most economically strapped and not eligible for debt relief, are not complying in full and some have barely reduced production,” Ziemba said.

 

“Despite pressure from the likes of Saudi Arabia and Russia, it is going to be very difficult for them to comply because these are countries that had big fiscal deficits when oil was $70 a barrel.

 

“The other challenge is that we are starting to see parts of the US shale industry starting to reverse shut ins. We are also seeing more rig activity after many weeks of decline. In a price range of mid-30s into a 40 range, there will be more entities that can make some money and the risk is that it puts even more pressure on Opec Plus. So, I do think the most likely scenario is a rolling over and extension of the supply cuts.”

 

Access to credit, to support economic recovery, is an additional challenge for indebted oil producing countries, which are having to deal with multiple shocks at the same time, including sizable outbreaks of the Covid-19 that may or may not be under control. Many of the oil producers that are in a tougher financial position than their rich peers are too wealthy to qualify for debt relief, Ziemba said, heightening social, political and economic risks which could further impact the oil and gas industry.

 

Elsewhere, as oil and gas companies seek for ways to recover, Ziemba said she expects to see some industry consolidation, particularly in the United States with more cash rich entities looking to go into smaller, more speculative areas that are lower cost. She also highlighted the possibility of further job cuts as companies become leaner and decide between boosting commercial reserves, or partnering with governments….



Read More: Manufacturing holds key to oil and gas recovery

Tags: belt and road initiativeEnergyGasholdskeymanufacturingoilOil and Gasrecovery

Related Posts

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field
Middle East

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

by Oil Market
July 31, 2020
0

China National Petroleum Corp. is in talks to acquire part of BP Plc’s stake in a key gas field...

Read more
Saudi Arabia may cut September crude oil prices to Asia: survey
Middle East

Saudi Arabia may cut September crude oil prices to Asia: survey

by Oil Market
July 30, 2020
0

FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12,...

Read more
Oil Pressure Control Solenoid Valve Market Study Report (2020-2026),
Middle East

Tomato Seed Oil Market 2020

by Oil Market
July 29, 2020
0

IndustryGrowthInsights (IGI), one of the world’s prominent market research firms has announced a novel report on Global Tomato Seed...

Read more
US OIL INVESTOR ALERT: Investor Lawsuit Filed
Middle East

The Global Almond Oil Market is expected to grow from USD 1,857.31 Million

by Oil Market
July 29, 2020
0

Market Segmentation & Coverage: This research report categorizes the Almond Oil to forecast the revenues and analyze the trends...

Read more
Middle East

Global Oil Needle Coke Market 2020 Industry Analysis, Size, Share, Growth,

by Oil Market
July 28, 2020
0

New Study Reports "Oil Needle Coke - Covid-19 Impact On Global Market Growth, Opportunities, Analysis Of Top Key Players...

Read more
Oil and Gas Subsea Power Grid, Global and United States Market to Grow
Middle East

Oil and Gas Subsea Power Grid, Global and United States Market to Grow

by Oil Market
July 27, 2020
0

LOS ANGELES, United States: QY Research has recently published a report, titled “Impact of COVID-19 Outbreak on Oil and...

Read more
Next Post
Oil Refining Catalyst Market Top Companies and Opportunities 2020-2026

Oil Refining Catalyst Market Top Companies and Opportunities 2020-2026

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Angola resists OPEC pressure to comply fully with oil cuts – ET Auto

Angola resists OPEC pressure to comply fully with oil cuts – ET Auto

3 years ago
Baker Hughes Posts Q2 Loss as Oil Slump Hits Demand

Baker Hughes Posts Q2 Loss as Oil Slump Hits Demand

3 years ago
Exxon Names Country Head in Emerging Hot Spot Guyana

Exxon Names Country Head in Emerging Hot Spot Guyana

3 years ago
Oil Price War Could Be on the Horizon

Oil Price War Could Be on the Horizon

3 years ago
Gov Gordon to hold live COVID update on Tuesday – Casper, WY Oil City News

Gov Gordon to hold live COVID update on Tuesday – Casper, WY Oil City News

3 years ago
(2020-2025) Concentrate Morocco Argan Oil Market Global Industry Size,

(2020-2025) Concentrate Morocco Argan Oil Market Global Industry Size,

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com