Opec has finally come to an agreement to reduce production, sending the oil price soaring. John Stepek looks at why the market is so excited.
We're on the cusp of a revolution in the energy industry. It's one that could redraw the energy map of the world, give humanity the ability to tap essentially unlimited power sources, and – if you make the right investments – make a fortune for investors.
In short, we're living through a change in the way the world produces and consumes energy. It is a transition that's well under way. And it's being driven by the convergence of several key technological trends that are showing no sign of abating.
While you wouldn't be alone in thinking that solar power was further away than ever, you could be wrong. Solar is on the brink of becoming the world's dominant energy source.
Oil prices have ticked up as Opec, the oil exporters’ cartel, launched a renewed attempt to cut output and reduce a glut. But Opec countries are notorious for failing to stick to agreements.
At a meeting in Algiers a few weeks ago, Opec – which pumps 40% of the world’s oil – said it wanted to reduce production to help shore up low oil prices. But that now seems unlikely.
Nicolás Maduro’s government is keen not to scare off foreign creditors and has prioritised debt service over other urgent needs.
Energy companies may be in much better shape that they were, but their revival in the junk-bond market is merely inflating a massive bubble further.
Opec has called a truce in its battle with US shale producers, trimming output to maintain prices. John Stepek picks the best way to invest as the oil price rises.
The oil price bounced by 5% on the news that Opec had agreed to cut output for the first time since 2008. But non-Opec producers are ramping up production.
Oil producers are meeting in an attempt to bolster prices. But don’t expect them to strike a deal. Here’s why, and what low prices mean for the rest of us.
THE END OF OIL
Understanding how the end of oil will affect your life and money is the single most important thing you’ll do in the next decade.
And it will affect you, because it’ll affect everyone. But only a handful of people will be bold enough to see what’s happening and move early to take advantage.
That’s exactly what our research report “The End of Oil” is designed to help you do.
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