Benchmark light crude prices surged in late 2020 and Q1 2021 driven by positive sentiment surrounding the roll-out of corona virus vaccines and a marked tightening in the market. The tightening reflects both recovering demand and constrained supply stemming from the deep cuts in production orchestrated by the Saudi led OPEC+ alliance. With Brent trading at around $65/barrel light, crude benchmarks are once again at comfortably profitable levels for the bulk of producers. Over the balance of 2021 ....
29 Apr 2021
OIL & GAS MACRO OUTLOOK - Bullish near-term outlook but potential supply influx
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OIL & GAS MACRO OUTLOOK - Bullish near-term outlook but potential supply influx
- Published:
29 Apr 2021 -
Author:
Peter J Dupont -
Pages:
38
Benchmark light crude prices surged in late 2020 and Q1 2021 driven by positive sentiment surrounding the roll-out of corona virus vaccines and a marked tightening in the market. The tightening reflects both recovering demand and constrained supply stemming from the deep cuts in production orchestrated by the Saudi led OPEC+ alliance. With Brent trading at around $65/barrel light, crude benchmarks are once again at comfortably profitable levels for the bulk of producers. Over the balance of 2021 ....