Market Update

Market Update Worldwide

Bangladesh Offers New Exploration Arena

The Permanent Court of Arbitration in The Hague has delineated the maritime border between India and Bangladesh. The peaceful settlement of the border dispute is a positive step in improving relations between the two countries and increasing energy interdependence.

Market Update Worldwide

Oil Prices Stay High – but spare capacity buffer should build

Oil prices are expected to remain high over the next two years as the market will remain tight by historical standards. Supply additions are expected to outpace demand growth, resulting in slightly softer oil balances in 2013. The market will remain similarly tight in 2014 as supply growth slows and demand accelerates with the global economy. Oil prices will likely remain volatile around high levels given the market tightness and risks to supply.