If a major oil company get to an oil field in, say, Texas, they alone will have control of the oil there - and once they've used it up, it's gone. Previously we expected this sluggish recovery to keep a lid on oil prices in the first half of 2021. We expect global oil demand to remain about 7% lower than pre-coronavirus levels in the first quarter of 2021, and about 4% lower in full-year 2021. Read writing about Oil in The Economist. America, under President Donald Trump, is securing its “energy independence” with oil and gas. On a daily basis, James Williams, energy economist at WTRG Economics, said the amount of oil that passed through the canal varies, but it’s close to 3 million barrels per day. Our forecasts and reports are updated monthly, to take into account the latest market trends and … Back in 2017, The Economist published a story titled, "The world's most valuable resource is no longer oil, but data." The Economist Intelligence Unit's oil, gas, electricity, coal, nuclear, renewables and alternative energy service offers in-depth analysis and forecasts However, I see long-term viability for them, with the current delays a transitory reduction in the need for infrastructure to move oil and gas from the Permian to markets around the globe. Data is the new oil, but semiconductors are the brains of the data economy and vie with hydrocarbons as the business world’s biggest economic flashpoint More than 6% of the world’s large oil tankers are now being used by Iran for storage or sanctions-busting Home » The Economist – The world’s most valuable resource is no longer oil, but data . Crude oil commodity analysis and forecasts from The EIU's trusted experts This service offers The EIU's two-year forecast for the global demand, supply and price of crude oil. Insight and opinion on international news, politics, business, finance, science, technology, books and arts. 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