PE Outlook 2019: A year of turbulence
The mood music at year-end 2018 was increasingly gloomy, as economic and political factors spook oil and gas markets
Oil prices rose - then sank. President Trump was true to his word and pulled the US out of the Iran nuclear agreement. Major oil producers Brazil and Mexico elected new presidents, both of a populist persuasion (though cut from rather different political cloths). Saudi Arabia found itself caught up in a diplomatic embarrassment, following the murder of the prominent Saudi journalist Jamal Khashoggi. The Democrats retook Congress in the US mid-term elections, and the US broke records, pumping more than 11mn barrels a day of crude. Britain continued to torture itself over Brexit, and Trump kickstarted a trade war with China. Meanwhile, Venezuela's oil production collapsed as the troubled Latin
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
