Wood Mackenzie (WoodMac), a global energy, chemicals, renewables, metals and mining researching and consulting firm, states companies need to raise investment into new production by 20%. Oil and gas companies need to increase annual investment before a supply demand in 2025. The investment could reach about $600 billion to ensure companies sustain production and growth for impending demand.
Khalid Al-Falih is viewed as one of the most influential individuals in the global oil market. Investors, traders and other energy experts pay attention when he delivers a message. Yesterday, the Saudi Energy Minister Khalid Al-Falih said that Saudi Arabia will be ready to “meet any demand that materializes to ensure customers are satisfied”. Shortly thereafter crude markets began to slide downward.
2018 was and continues to be a big year for the trucking and transportation industry. The future of the transportation industry will continually change over the next 10 years. Let’s take a look at some of the changes that took and will take place.
After the NYMEX started the morning slightly down and flat, RBOB and HO futures are now mixed as geopolitical news continues to be digested throughout the world. The top three issues impacting commodity prices continue to be the upcoming Iranian oil export sanctions in which there are conflicting reports as to the lost daily volume thus far, the recent murder of Washington Post journalist Jamal Khashoggi and the ongoing trade dispute between the U.S. and China.