Virendra Chauhan holds a PhD in Chemical Physics from Imperial College, with a focus on renewable energy. Following the completion of his studies, Virendra spent 18 months on the European Oil & Gas Equity Research team at Nomura International, before joining Energy Aspects in 2012. Virendra's work at Energy Aspects centres on crude markets. He analyses global supply demand fundamentals, with a particular emphasis on the upstream and shale. He also examines the impact of US shale on oil markets, trade flows and benchmarks, producing analysis that is regularly referenced by leading media outlets. His research covers specialist areas such as the economics of shale oil for independent US producers. More broadly, he reviews the potential for shale oil on a global scale, applying data-rich analysis to wider developments in the energy market.
The past two weeks have seen the three key agencies publish their monthly forecasts. The EIA published STEO on 8 May, OPEC published MOMR yesterday and the IEA published OMR this morning.Misdiagnosing a central pillar of accurate fundamental analysis—demand for the IEA and non-OPEC supply i..
Norwegian liquids production fell m/m by 33 thousand b/d to 1.87 mb/d in April, lower y/y by 0.25 mb/d, suggesting underlying declines remained elevated. Since October 2017, underlying declines have averaged 12%, while field-level data pegged March declines at 14%. April output was hit by a three..
Brazilian liquids production fell m/m by 57 thousand b/d to 2.67 mb/d in March, but was higher y/y for just the second time in the past eight months― due to a low base driven by maintenance last year. Across Q1 18, production was lower y/y due to steep declines in the Campos (14%) and delays to n..