Industry Metrics: Global markets poised to reach new equilibrium
Global energy markets are reaching a new equilibrium, according to Wood Mackenzie analysts. As demand shifts to the East, it will expand to extraordinary proportions.
However, the world also finds itself in an era of robust energy supplies. A shift from volume to value is rebalancing the energy market to a supply-push condition as demand softens.
New non-OPEC supplies are contributing to the situation. After the mid-June 2014 meeting, OPEC countries announced that the nations will keep the target production at 30 million bpd for another six months. HP