OMS-1 Oil Market Snapshot – June 2020 Brent Rises to c. $41/bbl After Cuts Extensions and Firm Compliance

  • Brent rose to c. $41/bbl in June as OPEC+ extended the higher cut level of 9.7 million b/d for another month to July and posted firm compliance data
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ShaleMonitor cover Shale Monitor – June 2020 Poor 1Q20 LTO Results - A Taste Of Things To Come

  • 1Q20 LTO revenues declined in line with average pricing (-25% q-o-q), while collectively net income falls to -$28.5 billion, close to the nadir of 4Q15
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OMS-1 Oil Market Snapshot – May 2020 Brent Holds Around $35/bbl As US Inventories Peak Amidst Talk Of Extended Cuts

  • Brent has risen to c. $35/bbl in May as demand lifts from its lows, US inventories ease and OPEC+ cuts start to take effect, though the benchmark was a little ...

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OMS-1 Oil Market Snapshot – April 2020 Demand Leads Supply, With OPEC+ Deal Fragile and Inadequate

  • Brent has fallen to $22/bbl despite a fresh agreement on April 13th to curtail global production by 9.7 million b/d, while May WTI closed at -$37/bbl, negative...

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OMS-1 Oil Market Snapshot – March 2020 Brent Routed After OPEC's Last Waltz with Russia in Vienna, Pandemic

  • Brent has been routed to $26/bbl, as the world implements measures to tackle the COVID-19 pandemic and the OPEC+ agreement collapses
  • We now see Bren...

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ShaleMonitor cover Shale Monitor – March 2020 Already Under Pressure, US LTO Set to Slash Capex Further

  • Even prior to the coronavirus and OPEC+’s failure to agree fresh cuts on March 6th, US LTO was in financial trouble
  • Collectively, 4Q19 was the bes...

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OMS-1 Oil Market Snapshot – February 2020 COVID-19 Rattles Markets, As Russia and Saudi Are Split on OPEC+ Response

  • Brent has collapsed to $50/bbl on 28th February, after a brief bounce at $55/bbl, as fears of weaker demand grip global markets due to the coronavirus outbreak...

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OMS-1 Oil Market Snapshot – January 2020 Coronavirus Outbreak Spooks Traders Over Demand Concerns

  • After a spike to c. $70/bbl in the wake of the assassination of Iranian General Qassim Soleimani, Brent has collapsed to $60.15/bbl on expectations of weaker d...

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Oil Cover Oil Market Snapshot – December 2019

• Brent has held firm in December, trading at $66.38 on 17th December, as the OPEC+ group reached a new deal and the US-China trade war looked to be nearing a ceasefire...

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OMS-1 Oil Market Snapshot – November 2019 No New Targets As Saudi Arabia Attempts To Enforce Compliance

Brent recovered slightly in November, trading at $63.87 on 28th November, against October’s average of $59.71/bbl. Less headwind from recent macro-economic data, combi...

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