for Oil Supply
Oil-producing countries face severe financial and political risk as the world transitions away from oil.
As oil prices jump to 13-month highs, OPEC+ has opportunity to unwind its deep production cuts.
As oil prices creep up, drillers' instincts for aggressive growth will clash with investor calls for restraint.
As the world embarks on an energy transition, the oil majors find themselves at a crossroads.
Likely Republican control of the Senate means President-elect Joe Biden's first policy actions will come from the President's pen, rather than Congressional legislation.
The IEAs latest World Energy Outlook predicts renewable energy will outcompete fossil fuels for new power generation—but more aggressive policies are needed to speed the pace of the energy transition.
The outcome of the election will have significant implications for the energy industry – but some trends are beyond White House control.
Even after historic cuts, lower demand means the oil market is still under pressure.
BP believes evolving policy, technological advances and COVID-19 mean peak oil demand will be reached in the 2020s—or has already happened.
Oil prices fall as the summer driving season ends, inventories remain high and refineries worldwide struggle with overcapacity.