Divided oil world
The global crude supply landscape has transformed over the past two years, bringing some blessings and many curses for producers
Opec's decision in November 2014 not to cut production—one it has maintained at every meeting since—sparked a global output free-for-all, sending oil prices down in the process. Almost two years on, ahead of another unofficial Opec meeting in Algeria, Brent wasn't even able to sustain a price at $50 a barrel, its inflation-adjusted level since the 1970s. Demand is hardly roaring ahead, but the real culprit remains too much supply. In August, global oil production was 96.9m barrels a day—just 300,000 b/d less than a year ago. That's hardly the kind of supply retreat anyone expected when prices started to crumble. The relentless nature of the supply glut continues to thwart forecasters. In Jan
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18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
