Oil: Five things to watch in 2024
Many of the biggest themes of 2023 will come to a head this year, but beware both naysayers and apologists
Last year was supposed to be the year of the new normal. Instead, there remains huge uncertainty over the global economic outlook, OPEC’s unity, geopolitical tensions and the energy strategies of both IOCs and NOCs. But the oil industry must navigate not only vastly opposing market forces but also the competing agendas of bullish and bearish narratives. This raises the question of where those with vested interests should put their trust. Even apparently independent commentators must be assessed for their biases, especially when there are headlines to be written and money to be made, and when the way ahead is unclear. Is $80/bl a sweet spot? An oil producer’s bare minimum level? A pain point
Also in this section
24 October 2024
Producers in the region see significant gains to be made by boosting output using the infrastructure already in place
23 October 2024
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026