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Medium-Term Oil and Gas Markets 2011

Abstract

Oil and gas markets have been marked by an increased divergence in recent months. On the one hand, oil market developments have generated an unpleasant sense of deja vu: rapid demand growth in emerging markets eclipsed sluggish supply growth to push prices higher even before the conflict in Libya tightened supplies still further. Oil prices around $100/bbl are weighing down on an already-fragile macroeconomic and financial situation in the OECD, pressuring national budgets in the non-OECD and causing price inflation of other commodities, as well as political concerns about speculation. There is an uncanny resemblance to the first half of 2008. On the other hand, in the world of natural gas an amazing disconnect has developed as demand recovered to well above pre-financial-crisis levels in most major regions. Gas markets have tightened in Europe and Asia, where prices are about twice the level seen in the United States, as the unconventional gas revolution is in full swing. From the upstream implications of the Arab Spring to the macroeconomic consequences of the eurozone crisis, energy markets are experiencing one of the most uncertain periods in decades. This publication provides a comprehensive outlook for oil and gas fundamentals through 2016. The oil  More>>
Authors:
"NONE"
Publication Date:
Jun 16, 2011
Product Type:
Miscellaneous
Subject:
02 PETROLEUM; 29 ENERGY PLANNING, POLICY AND ECONOMY; PETROLEUM; MARKET; PRICES; VOLATILITY; SUPPLY AND DEMAND; ECONOMIC ANALYSIS; STATISTICAL DATA
OSTI ID:
21467271
Country of Origin:
IEA
Language:
English
Other Identifying Numbers:
TRN: XY11OA006
Availability:
Available from the IEA bookshop: http://www.iea.org/w/bookshop/add.aspx?id=404
Submitting Site:
ETDE
Size:
272 pages
Announcement Date:
Dec 01, 2011

Citation Formats

Medium-Term Oil and Gas Markets 2011. IEA: N. p., 2011. Web.
Medium-Term Oil and Gas Markets 2011. IEA.
2011. "Medium-Term Oil and Gas Markets 2011." IEA.
@misc{etde_21467271,
title = {Medium-Term Oil and Gas Markets 2011}
abstractNote = {Oil and gas markets have been marked by an increased divergence in recent months. On the one hand, oil market developments have generated an unpleasant sense of deja vu: rapid demand growth in emerging markets eclipsed sluggish supply growth to push prices higher even before the conflict in Libya tightened supplies still further. Oil prices around $100/bbl are weighing down on an already-fragile macroeconomic and financial situation in the OECD, pressuring national budgets in the non-OECD and causing price inflation of other commodities, as well as political concerns about speculation. There is an uncanny resemblance to the first half of 2008. On the other hand, in the world of natural gas an amazing disconnect has developed as demand recovered to well above pre-financial-crisis levels in most major regions. Gas markets have tightened in Europe and Asia, where prices are about twice the level seen in the United States, as the unconventional gas revolution is in full swing. From the upstream implications of the Arab Spring to the macroeconomic consequences of the eurozone crisis, energy markets are experiencing one of the most uncertain periods in decades. This publication provides a comprehensive outlook for oil and gas fundamentals through 2016. The oil market analysis covers demand developments on a product-by-product and key-sector basis, as well as a detailed bottom-up assessment of upstream and refinery investments, trade flows, oil products supply and OPEC spare capacity. The gas market analysis offers a region-by-region assessment of demand and production, infrastructure investment, price developments and prospects for unconventional gas. It also examines the globalising LNG trade.}
place = {IEA}
year = {2011}
month = {Jun}
}