2017 saw a year of rebalancing for oil, albeit slower than first hoped, as energy companies demonstrated improved resilience to the oil price environment.
During our Global Energy webcast, portfolio managers Will Riley and Jonathan Waghorn covered the following topics:
OPEC has shown clear determination to defend an oil price floor; we expect a $55-60/bl range
US onshore oil production will need to grow faster in 2019/2020 to offset existing production declines and to satisfy growing demand globally for oil products
The energy equity sector has adjusted to lower oil prices with profitability and free cashflow generation improving
It is unlikely that extreme sector valuation levels will be sustained as the companies continue to recover
of the webcast presentation slides. Click here to download a PDF
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