OMS_April_2016


Add to Basket £59.99 inc VAT


Oil Market Snapshot – April 2016

  • Brent has risen to hold around $45/bbl in April, boosted mainly by EIA reports of declining US LTO production
  • The last-minute collapse of negotiations on a production freeze has had little lasting effect on prices
  • Our Brent price forecast remains largely unchanged, at $38.24/bbl and $47.48/bbl for 2016 and 2017 respectively
  • The market is getting closer to demand/supply balance, driving prices upward, but in the short-term price prices will continue to be driven by technical factors
  • Non-OPEC production decline is likely to accelerate, largely due to US LTO and reduction from other high cost basins such as Norway, where ten fields are being shut-in early
  • Meanwhile OPEC production holds steady, with 1.95 million b/d in new production capacity being brought online between 2016 and 2020

Please purchase or subscribe to this report to continue reading or log in if you have already done so.


Not yet a subscriber?
Subscribe and Save 20%

If you are interested in a corporate subscription, please contact us at admin@petrologica.com or call us on +44(0)1206 823 295.