Hi Climate Change! Seven Industry Challenges for 2014! & OIL!.

Hi Climate Change! Seven Industry Challenges for 2014! & OIL!.

After three years of rising confidence in prices and production, many in the industry have turned cautious. This is one of seven notable trends uncovered by DNV-GL's annual industry survey.

 Slowing economic growth in India and other emerging markets, coupled with a supply increase that is slowly outpacing demand, is expected to add to global price instability. 

Mergers will be more common as rising demands on capital force out smaller players. Shortages of skilled workers (watch below) will also contribute to a tough year. Not all is doom and gloom however; things are looking up for Brazil and Australia.

Hi Exclusive: The Iraqi Effect:

Discussions on Iraqi oil make the latest U.S. Energy Information Administration (EIA) projections especially noteworthy. Surprisingly (watch), the EIA expects Iraq to maintain high production and export levels.

Northern production ceased in January, but southern production has been largely unaffected by the conflict. 

Unfortunately, long term effects on oil markets may be more dire. 

Iraq was expected to make up for declining production levels among the other OPEC countries, but increases in production are now in doubt. Unless Libya comes back on line, OPEC supply disruptions are expected to continue at levels approaching 2.7 million barrels/day.

DOWNLOAD THE FULL REPORT: The Availability and Price of Petroleum and Petroleum Products Produced in Countries Other Than Iran.