July 27, 2017
This year has been a waiting game so far and sentiment towards crude oil and energy equities is back to early 2016 levels.
During the webcast our Global Energy Team discusses:
Bloated global oil inventories remaining the root cause of the problem and the market wants to see confirmation of rebalancing
reasons for optimism around rebalancing but there are also many moving parts:
Oil demand growth continues at a steady 1.0-1.5m b/day
Cost of inflation in the US onshore will pressure well economics
Lack of investment will bring non-OPEC (ex-US) production declines
a ramp up in US activity will keep a lid on oil prices near term
Growing and outspending is back on the agenda for US E&Ps
• Energy equities are
likely to recover from very low sentiment but the market will clearly want solid data before pricing in more hope
Click here to download a PDF of the webcast presentation slides.
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