Industry View

Covid-19 and energy transition will expedite peak oil demand to 2028 and cut level to 102 million bpd

The Covid-19 pandemic and the acceleration of the energy transition have led Rystad Energy to significantly revise its long-term oil demand forecast. The virus is expected to have a lasting impact on global oil demand, which we now see peaking at 102 million barrels per day (bpd) in 2028.

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Non-compliant Europeans limit second lockdown’s road fuel demand destruction to just 900,000 bpd

A Rystad Energy analysis of Europe’s real time traffic data has revealed that the road fuel demand destruction during the prevailing second wave of Covid-19-related lockdowns will be limited to just 900,000 barrels per day (bpd) for November 2020.

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The world may not have enough heavy lift vessels to service the offshore wind industry post 2025

Offshore wind is booming, and as turbine and project sizes grow, demand for specialized installation vessels will soar.

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As global oil demand outlook weakens, planned refining capacity boom set to keep utilization low

The ongoing energy transition combined with the effects of Covid-19 will drive future oil demand to lower levels than what was expected just months ago.

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Hydrogen opens a prolific service industry as coming project spending bakes a $400 billion pie

A wave of green and blue hydrogen projects that are poised to be developed in coming years could unlock about $400 billion worth of spending for the service industry between 2020 and 2035.

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Global discovered oil and gas resources set to reach 10 billion boe in 2020, Russia in the lead

Despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades, exploration activity has been resilient this year.  

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US average acreage price fell 70% in two years, further consolidation expected towards 2022

The average price for US onshore shale acreage has declined by more than 70% in two years, a Rystad Energy analysis shows, plunging to $5,000 per acre in 2020 from $17,000 per acre in 2018. 

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