OPEC-watchers expect group to delay supply boost by three months
OPEC and its allies will likely delay a supply increase planned for January by three months, according to a survey of oil analysts, traders and refiners.
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Insights: cost cutting slows, according to Westwood
The pace of cost cutting in the mid-cap market is continuing to slow, according to analysis by Westwood Global.
Asian investment on US shale deals has dried up since downturn
US shale was the hot ticket for Asian investors before the downturn but deals have dried up since 2014, according to analysts Wood Mackenzie.
Analysis: Premier Oil’s forecast positive, claims analyst
Premier Oil's refinancing bid is a "positive" step despite bondholders public concerns, an analyst has claimed.
Hedging protections for US oil and gas firms to plunge next year
Oil and gas hedging protections for North American exploration and production companies is expected to plunge next year to just 11% of total production volumes, according to new research. IHS Energy has warned many exploration and production companies could be left at risk of financial stress as a result. The analysis assessed the amount of oil and gas hedging protections in place for 48 small, midsized and large North American companies for the second-half of 2015 and full-year 2016. IHS found while overall hedging for second-half 2015 was largely unchanged from previous analysis one year earlier, North American exploration and production companies have a 28% of total production hedged for the remainder of this year.
The only thing oil analysts can agree on is disagreement
Standard Chartered Plc’s Paul Horsnell forecasts oil will rise to $90 a barrel in the fourth quarter. Bank of America Merrill Lynch’s Francisco Blanch predicts $58. Six months ago, they were just $1 apart. That sudden divergence highlights a growing trend: Energy analysts are the most divided in at least eight years on the direction of Brent crude, the global benchmark. Forecasters failed to predict the plunge that cut oil prices by more than half after the U.S. shale boom boosted output to a three-decade high. OPEC, led by Saudi Arabia, the world’s largest oil exporter, relinquished its traditional role adjusting production to moderate price swings in an effort to maintain market share.
Oil May Fall Again Says Analyst Who Predicted ’09 Rebound
Oil prices could drop again later this year as a supply glut persists, according to Jason Kenney, a Banco Santander SA analyst who accurately predicted a rebound in prices after the 2008 slump. The current oil shock caused by the boom in U.S. shale production is reminiscent of the mid-1980s, when development of fields in the North Sea and the Gulf of Mexico caused a supply glut, Kenney, the head of European oil and gas equity research at the Spanish bank, said by phone from Edinburgh Thursday. It differs from the 2008 collapse, which was caused by slumping demand in a recession, Kenney said.