Understanding Global Oil Markets

About "Understanding Global Oil Markets"

Understanding Global Oil Markets provides an intensive, in-depth look at market fundamentals and pricing. It starts by focusing on PIRA’s perspective on supply/demand fundamentals and refining trends. The program then demonstrates how PIRA incorporates that information to develop its own forecasts of near- and long-term crude and product prices and margins. In addition to covering fundamental drivers of price, the course also includes an extensive discussion of the role of speculators, the impact of geopolitical issues and other risk factors, and the development of long-term price scenarios.

PIRA University was established in 2003 in response to the numerous requests from clients for PIRA to provide individual and company-specific training on a wide range of topics related to energy markets. PIRA University offers several different programs focusing on global oil, natural gas, coal and environmental markets. These programs — held in major energy hubs around the world and open to PIRA and non-PIRA clients alike — are designed for beginner- to intermediate -level analysts, marketers, traders, and planners, as well as senior managers and executives who wish to receive a refresher course on energy market concepts and practices.

Houston: Tue-Wed, June 2-3, 2015

New York: Wed-Thu, December 9-10, 2015


Key Features of PIRA U.

What makes "Understanding Global Oil Markets" different?

  • While most training programs provide instruction on the technical aspects of crude production and refining, PIRA provides unique insights into the industry’s commercial aspects and their bearing on market movements.
  • The instructors are PIRA’s full-time energy consultants, who have spent most of their careers in the energy industry, as economists, engineers, or analysts. Their collective energy market experience, knowledge and expertise form the foundation of PIRA University and its proven ability to help students build a solid framework for analyzing data, interpreting news events and policy announcements — even weather fluctuations — and to understand their impact on prices.
  • PIRA University is a sound investment for any energy market participant who wants to be armed with a keen understanding of the landscape, fundamental drivers, and function of global energy markets.


Understanding Global Oil Markets is a two-day seminar open to both existing PIRA retainer clients and non-clients.

  • Time will be available for questions and answers.
  • One copy of the Understanding Global Oil Markets textbook is included in the tuition fee. This 300-page color textbook includes all the seminar charts, concise explanations of the concepts presented and an extensive glossary of oil market terminology.
  • Day one ends with a cocktail reception — a great opportunity to speak with the faculty or network with industry colleagues.
  • On both days, complimentary continental breakfast, coffee breaks and buffet lunch are provided.


Who Should Enroll in PIRA U.?

PIRA University’s commercial insight will be valuable to a range of industry participants. Those who are relatively inexperienced can gain a more comprehensive understanding of what to expect in the energy market and why. At the other extreme, those already possessing knowledge of much of the subject material can gain valuable insights into the impact of new and emerging factors on energy markets. The following professionals can all benefit from PIRA University:

  • Analysts who require an edge on their competition in finding, understanding and interpreting key market data.
  • Energy traders who need to anticipate where prices are heading before the markets react.
  • Planners who have to stay on top of the changes that will drive the profitability of their companies’ operations, strategies and investments.
  • Risk managers who need to understand what really drives the ups and downs of energy markets and what options are available to manage the inherent uncertainty.
  • Refiners who want to understand key elements that drive their profitability.
  • Hedge fund and pension fund managers whose success may be directly tied to getting a jump on where energy prices are going and knowing which segments of the industry are the right play.
  • Government officials who will be involved in regulations that will impact the energy markets.
  • Banks and other financial institutions that provide financing for projects and need to assess risks and uncertainties in the long-range outlook for prices.
  • Producers who need to know the forces impacting near-term and longer-term prices as well as the industry volumes in the regions in which they operate.
  • Buyers and sellers who need to formulate better, timelier hedging strategies for minimizing future price risk.
  • Energy end-users who need a better understanding of the market forces controlling the supply, price and volatilty of their fuel sources.