Today energy deeply entered all spheres of human lives so that further economic and social development requires strong and reliable energy supply. ExxonMobil's Outlook for Energy report shed some light on the future advancement of global energy framework by estimating energy supply and demand indicators up to the year 2040. Below you can find interactive infographics presenting key findings of this report.
Brent crude oil price will average at $52.4 per barrel in 2017 and increase to $54.1 per barrel in 2018 according to the most recent forecast from the U.S. Energy Information Administration's Short-Term Energy Outlook released monthly. EIA revised up its forecast for 2018 by 2.5 dollars per barrel from the previous release. However, the real price of a barrel of Brent oil - i.e. price adjusted for inflation - will slightly decrease to $50 in 2018 as predicted by OECD in its June's Economic Outlook. After a modest growth in 2018 though, the nominal price of Brent crude will increase to $53.5 a barrel by 2020, as per IMF's Primary Commodity...
Autumn and winter are traditionally characterized by the growth in energy consumption and, thus, in prices for energy products. Still, natural gas prices in the US, Europe, and Japan showed different dynamics in November. Thus, the spot price of natural gas at Henry Hub, US, fell by 15.2% in November compared to the previous month. This decline - which was the sharpest monthly drop since December of 2014 - interrupted a period of steady growth lasting from April. On the contrary, in Europe, average import border price of natural gas surged by 14.4% - the most dramatic monthly increase over the last 17 years. What for the import price of...
2016 was an exceptional year for coal prices. The period of decline which began in 2011, was interrupted by the rapid growth. Coal prices grew by 7-10 percent in November continuing a 24-29 percent growth in October. Since January, when the price of coal reached a 10-year low, coal prices have rebounded by about 100 percent. This situation is attributable to several factors. First, it is the consequence of an implemented policy in China which aimed at reducing harmful emissions. China is the largest coal consumer and coal producer at the same time. The reduction in own-grown production led to the increase in coal imports. Second, not only...
Slump of oil prices does not slow oil production immediately as it does with investment according to historical evidence. On the contrary, it affects future production through decreased investment in exploration and development of new fields. However, in the current conditions when oil price hovered above break-even price (price at which it becomes worthwhile to extract) for several years the response of production to price decrease may come more quickly. Especially, it concerns countries which experience high operating costs of oil production, namely United Kingdom, Brazil, Canada, Australia. In these countries oil price slump will affect...