Coming Up. In Q3 oil prices continue to rise, with Brent holding between $80 to $90. Brent oil prices reached a high of $87 in early October.
Under Pressure. A number of factors in Q4 supported the price increase, particularly the Brent increase. The 12 MMA spread between global supply and demand continues to show demand exceeding supply. Stock levels in OECD countries outside the US continues to fall. In advance of the end of the Iran sanction wind-down period in November 2018 global demand for Iranian crude continues to fall and Venezuelan production continues to drop.
Total Eclipse of the Heart. In our previous edition, ERCE explored Wind Power as a source of energy. In this edition we look at Solar Power and its current and forecast role in the global energy mix.