Market Update: Oil and Gas | KPMG | ID

Market Update: Oil and Gas

Market Update: Oil and Gas

This is a time of extraordinary global economic and political turbulence, and the Oil and Gas industry is facing some fundamental challenges.  

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Historically, the focus in this industry has been on locating resources and meeting rising energy demands. Today, however, the picture is more complex.

KPMG's Global Energy Institute reviews the oil market as at January 2015.

 

Key insights

 

  • Oil price forecasts taken in December contained significant downside revisions for 2015 following OPEC decision to maintain the 30 mb/d production quota.
  • In 2014 Brent oil prices exited the safe harbours of the $90-125/b trading range where prices have remained for the last 4 years.
  • Long term estimates for Henry Hub gas were nudged lower by analysts in December on increased supply from shale formations.

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