Ain't got that swing

Tight oil is not the new market balancer but, alongside storage, will help smooth out the market’s troughs and peaks

In America, 2016 was rife with challenges for oil and gas companies. But the year also saw the first cargo of liquefied natural gas leave American soil in decades and revealed the resilience of the Permian. And, of course, it was also a year that threw up a political shock, with the election of Donald Trump. In the oil industry, hopes are rising that 2017 will bring a return to something like normality. Several months of relatively stable prices have calmed fears. This decreased volatility has also given Opec a steady platform to try for a deal. The late November meeting will, at the very least, put the group on the threshold of an agreement; one that could buoy markets, but also signal Opec